Hogan Lovells and Mayer Brown are the latest Big Law firms to cut attorney pay in response to coronavirus impacts.
Hogan is cutting pay for U.S.-based attorneys by at least 10% while Mayer Brown is implementing a 15% percentage salary reduction for each of its lawyers other than its equity partners, as well as business services staffers who earn more than $200,000.
Both firms announced the pay cuts on Wednesday.
“Our approach is to share the burden to protect both the business and our people so that we are well-positioned to meet our clients’ needs when the economy bounces back,” ...
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