Baker McKenzie to Cut U.S. Lawyer Pay 15%, Possibly Through 2020

Baker McKenzie will cut the salaries of U.S. lawyers and high-paid staff by 15% starting on May 1, the firm said in a statement, warning that while the length of the pay cuts are unknown they could last through the end of the year.

The firm said the pay reductions would help avoid layoffs, which some law firms have announced in recent days as the global economy idles to prevent further spread of Covid-19.

The largest pay cuts will be felt by equity partners, and they will not impact employees earning less than $100,000 a year, Baker McKenzie’s statement said. ...