Linklaters Holds NQ Pay Decision As Reed Smith Cuts Trainee Spots
Herbert Smith Freehills has also joined the ranks of firms taking action that affects their junior ranks, as the fallout from the COVID-19 pandemic continues.
June 12, 2020 at 06:55 AM
3 minute read
Linklaters has delayed the announcement of its newly qualified (NQ) salaries as a host of top firms take further measures relating to their junior ranks due to the coronavirus pandemic.
The firm is holding off on announcing its rates for its incoming lawyers, pending a review.
A spokesperson for the firm said in a statement: "Given the extraordinary economic circumstances created by the impact of Covid-19, we have not yet confirmed the salary level for this year's NQs."
Linklaters' decision comes shortly after Slaughter and May moved to cut NQ salaries by £5,000.
The news was first reported by legal website Roll On Friday.
Reed Smith, meanwhile, has cut the number of NQ positions available to current trainees from 15 to 12, meaning three trainees will have to leave the firm.
The firm added that of the 12 positions, 11 would be in London and one in Paris.
Reed Smith had previously announced a reduced-hour working scheme, a redundancy consultation which would cut up to 20 roles from the London office and office-wide salary cuts. As part of that, NQs will see their salary reduced from £90,000 to £79,500, the firm confirmed.
Meanwhile, Herbert Smith Freehills has become the latest firm to defer the start dates for some of its trainees.
In a statement, the firm said that eight of its 28 incoming trainees in September will be asked to defer their starting date by six months. In return, HSF will pay out a grant of £8,000 to them, as well as offering a further £1,000 towards an educational programme which benefits their legal career.
An HSF spokesperson said in a statement: "Our people, including our trainees, are very important to us. This decision has not been taken lightly. We have only decided to take this step after careful consideration and as part of our wider prudent measures to keep our business resilient and protect our people in it."
The firm is not the first to have offered grants in return for deferrals. Earlier in June, DLA Piper announced it would pay incoming trainees £10,000 to defer for a year, or £5,000 for six months.
Read More
DLA Piper Offers Future Trainees Up to £10K To Defer Start Dates
Reed Smith to Lay Off London Lawyers, Extend Salary Cuts and Trim Workweeks
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