Holland & Knight is furloughing some workers, cutting partner draws,and reducing salaries for associates and staff in response to the economic downturn caused by Covid-19.
The firm will employ a progressive scale to reduce partner draws the most for those who make the most money, according to a firm statement issued Friday. On average, those cuts will be 25%.
The 1,200-plus lawyer firm joins a long list of U.S. and international law firms taking cash-saving measures as they prepare for a severe downturn caused by the largely idled global economy. Firms are cutting salaries and some are furloughing lawyers and ...
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