Bloomberg Law
May 21, 2020, 9:41 AM

Amid Austerity Measures, These Firms Can’t Cut Lawyer Salaries

Roy Strom
Roy Strom

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we look at how “virtual” firms are being viewed as an appealing alternative to the traditional firms across Big Law implementing austerity measures. Sign up to receive this column in your Inbox every Thursday morning.

While reporting on the spread of law firm austerity measures over the past month, I have heard a common argument as to why partners will accept pay cuts or answer capital calls: they have nowhere else to go.

And, besides, most other firms are taking ...

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