Fox Rothschild is the latest law firm to roll back some of the financial precautions it put in place in the early spring due to coronavirus, announcing it will restore half the reductions in monthly partner draws and half of attorney and staff salary reductions.
Like nearly 50% of firms in the AmLaw100, Fox Rothschild implemented austerity measures to mitigate the economic impact of the pandemic. Monthly partner equity draws were reduced between 10 and 20%, while attorneys and staff making more than $100,000 per year saw pay cuts between 10 and 15%.
The firm said the 50% reduction in ...