Eversheds Sets Up Scheme to Facilitate Hours and Pay Reductions
The six-month programme will see staff in impacted sectors placed on reduced hours and pay to mirror client demand.
May 11, 2020 at 08:21 AM
2 minute read
Lee Ranson, Eversheds
Eversheds Sutherland has introduced a six-month scheme which will allow the firm to cut hours and pay of employees in sectors which have seen a downturn in activity as a result of the coronavirus pandemic.
The programme, named 'Flexing the Working Week Scheme', takes effect from the beginning of June. According to the firm, the introduction follows a business-wide consultation and will see the hours and pay of impacted staff reduced to 80%.
The firm added that it anticipates different teams of lawyers will be moved on and off the scheme at different times to mirror client demand. The measures will also not apply to trainees, apprentices and those whose base salary is under a certain threshold.
In addition, the firm confirmed that partners remuneration has been reduced by an average of 25%.
In a statement, Eversheds CEO Lee Ranson commented: "We have consulted widely across the firm on its terms to make sure we have a scheme which is right for us as a business and for our people."
This is the latest set of financial measures enacted by the firm. Previously, Eversheds placed 39 of its staff on furlough, delayed bonus reviews and launched a hardship fund to provide additional financial support to individuals who are particularly impacted by COVID-19.
The firm also previously enhanced its Time Off for Dependents Policy to help those who are balancing work and family or caring responsibilities, offering five days of full pay and has also introduced an enhanced holiday scheme which gives an additional day of holiday for every four taken to care for others.
Read more
Eversheds Sutherland Furloughs 39 Staff, Delays Bonus Reviews and Creates Hardship Fund
A Firm-By-Firm Guide on the Latest Pandemic Measures
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