Bryan Cave Leighton Paisner (BCLP) has cut its London-based newly-qualified (NQ) lawyers' pay, in the latest move by a firm to shore up its finances by trimming junior lawyers' compensation.

The firm has cut pay for NQs at its U.K. offices by 2.5%. Its next intake of NQs will be paid £78,000 a year, down from its previous rate of £80,000.

A spokesperson for the firm said in a statement: "In response to the ongoing COVID-19 pandemic, we have lowered our NQ salary by 2.5% to £78,000 as part of a set of measures developed to ensure that we approach a challenging period, pragmatically.

"Developing and retaining talent remains a key priority for BCLP and we will move through 2020 with the same dedication to our current and future trainees."

In April, BCLP announced slary cuts for its partners and employees to protect its finances from COVID-19 difficulties. BCLP is the latest firm to make salary cuts for its newly-qualified lawyers in response to disruption caused by the coronavirus.

On Wednesday, Hogan Lovells announced it had cut its newly-qualified lawyers' salaries by £5,000 to £85,000 for its London lawyers, and by £2,000 to £46,000 for its Birmingham-based cohort.

Allen & Overy and Clifford Chance cut their London NQ salaries earlier in June.

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