Wake Up Call: Shearman Said to Backtrack on Market-Scale Bonuses

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• Shearman & Sterling, rumored to be discussing a merger with Hogan & Lovells, earlier this year told US associates it was matching the Baker McKenzie standard for year-end bonuses. Now, the firm is telling associates in some practices that they’re not getting any bonus because they didn’t meet an hourly requirement, a legal blogger reports, citing tips from associates. Shearman is telling associates in other practices that they’re getting bonuses calculated based on a percentage of their billable hours ...