Lawyers Get Pay Cuts, Furloughs as Firms Grapple With Downturn

The legal world is being ravaged by the economic fallout from the Covid-19 pandemic, as lawyers are furloughed, forced to take pay cuts or unable to find work.

Government lockdowns aimed at containing the spread of the virus have forced even elite law firms to rein in their finances as the biggest slump since the Great Depression looms.

In the U.K. alone, nearly 80% of firms plan to furlough some staff and cut partner compensation, according to a study of 200 practices by accountants Saffery Champness. The grave situation has led bar leaders across the G7 nations to discuss ...