Law360 (April 15, 2020, 9:20 PM EDT) -- Florida-based Greenspoon Marder LLP is the latest firm to lay off staff and attorneys and implement pay cuts in the face of reduced revenue projections because of the coronavirus pandemic.
The firms managing partners confirmed Wednesday that they had let go of 40 staff members and five lawyers and reduced salaries as part of cost-cutting measures meant to offset an anticipated slowdown in business.
These actions are not only consistent with what most professional service firms are doing, but all businesses around the globe, managing partners Gerry Greenspoon and Michael Marder said in a joint statement. It is our sincere and honest hope that many of these reductions will be temporary.
They said that so far, the firm which has more than 240 attorneys in 26 locations around the country has been able to adapt and remain productive and responsive to our clients during these very difficult and challenging times, while also maintaining all appropriate safety measures.
Greenspoon Marder is far from the only law firm to take cost-cutting measures during this crisis. On Tuesday, Philadelphia-based Ballard Spahr LLPsaid it would be cutting pay for nonpartner attorneys and staff making more than $75,000 per year and reducing partner draws in response to the economic toll of the pandemic. The measures were implemented to stave off potential layoffs, according to firm Chairman Mark Stewart.
Baker McKenzie is also reducing salaries for attorneys including nonequity partners, other timekeepers and business professionals, and Kirkpatrick Townsend Stockton LLP said it was reducing partner draws by an average of 10% and cutting pay for salaried attorneys and staff by 5%.
Virus-Related Layoffs, Pay Cuts Hit Greenspoon Marder
By Carolina Bolado
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Law360 (April 15, 2020, 9:20 PM EDT) -- Florida-based Greenspoon Marder LLP is the latest firm to lay off staff and attorneys and implement pay cuts in the face of reduced revenue projections because of the coronavirus pandemic.The firms managing partners confirmed Wednesday that they had let go of 40 staff members and five lawyers and reduced salaries as part of cost-cutting measures meant to offset an anticipated slowdown in business.
These actions are not only consistent with what most professional service firms are doing, but all businesses around the globe, managing partners Gerry Greenspoon and Michael Marder said in a joint statement. It is our sincere and honest hope that many of these reductions will be temporary.
They said that so far, the firm which has more than 240 attorneys in 26 locations around the country has been able to adapt and remain productive and responsive to our clients during these very difficult and challenging times, while also maintaining all appropriate safety measures.
Greenspoon Marder is far from the only law firm to take cost-cutting measures during this crisis. On Tuesday, Philadelphia-based Ballard Spahr LLP said it would be cutting pay for nonpartner attorneys and staff making more than $75,000 per year and reducing partner draws in response to the economic toll of the pandemic. The measures were implemented to stave off potential layoffs, according to firm Chairman Mark Stewart.
Baker McKenzie is also reducing salaries for attorneys including nonequity partners, other timekeepers and business professionals, and Kirkpatrick Townsend Stockton LLP said it was reducing partner draws by an average of 10% and cutting pay for salaried attorneys and staff by 5%.
Last week, a number of large law firms including DLA Piper, Orrick Herrington Sutcliffe LLP, Shook Hardy Bacon LLP, Blank Rome LLP, Winston Strawn LLP and others all said they would be taking various cost-cutting measures, including furloughs, pay cuts and deferments of partner pay distributions, to weather the coming economic downturn.
--Additional reporting by Aebra Coe and Matt Fair. Editing by Janice Carter Brown.
ezcater，400 out of 900 layoff了。。。哎，我老人家，生物博士后，干了快30年了，还没吃过救济呢。。。孩子大学毕业才几年，就要拿失业金了。。。
冬天买了好多钓鱼工具。。。
到退休也不会失业了。。。LOL，失业就退休，让老婆包养！
那里荠菜更多一些。。。
还有初恋帮一把。。。
学校给了三万块，也给了通行证。。。
做CS的，每个都浸过好几次的，越雷越强哈。
有些公司furlough, 这样员工可以领UI， 公司只提供健康保险，公司也可以省一点钱。
去年还好得意呢，公司搞了好多钱，扩大扩大到欧洲。。。一个病毒，全垮了。。。
说收入少了一半，看的人多但是收入减少.....
She is not qualitfied for 1200 from Trump, for sure. She complained and I will send ours to her...