Nearly Half of Big Law Firms Made Pay, Other Cuts in Pandemic

Nearly half of the largest 100 law firms in the U.S. made pay cuts, furloughs, or other moves to trim costs in response to the coronavirus pandemic, according to a Bloomberg Law analysis.

“There’s a part of the market that viewed this as an opportunity to make some cuts,” said Dan Binstock, a partner at Washington-based legal search firm Garrison & Sisson.

A total of 48 firms of the top 100 firms in the country resorted to some form of equity partner payment reductions or delays, attorney and staff salary cuts, furloughs, or layoffs. Those moves have varied widely by ...