Bryan Cave Leighton Paisner is deferring payments to partners and will cut salaries for many staff and associates by 15% in response to “potential challenges” the firm said may result from Covid-19.
The firm declined to provide detail on the size or duration of the partner compensation deferral, but said its partners will be “primarily responsible for absorbing any downturn” in financial performance from the crisis.
Many Big Law firms are making moves to protect their financial position as they anticipate demand will fall with a large segment of the world’s population under some form of lockdown and businesses facing ...
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