Squire Patton Boggs on Friday announced across-the-board pay cuts in the U.S. and in its offices around the globe, along with furloughs of an undisclosed number of support staff, in response to the ongoing COVID-19 crisis.

The firm said partners, as owners of the business, would take the biggest hit, via reduced profit distributions. Associates will see salaries cut by 20%, but bonuses will not be affected. Support staff will see cuts ranging from 10% to 20%, with higher earners subject to larger reductions. Some staff who either are currently underused or unable to do their jobs remotely will be subject to furloughs.

"The global pandemic has created distress for companies around the world and will continue to for some time," the firm said in a statement. "As responsible stewards of the firm and consistent with measures taken by other law firms, it is necessary to take prudent steps to assure the firm's success and prevent job loss over the long term."

The firm is also canceling its 2020 summer associates program in the U.S. Instead, admitted students will receive a $5,000 stipend instead of the planned salary for participation in the original nine-week program. Those students starting their final year of law school in the fall will receive offers to join the firm as associates in fall 2021, while those starting their second year will be invited to the 2021 summer program.

Incoming U.S. associates who had been scheduled to join the firm in September will now start in January 2021. The firm currently expects U.K. trainees to start in August as scheduled.

The firm saw flat revenue in 2019, at $1.04 billion, while profits per equity partner ticked upward 6.8% to $1.1 million.

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