The coronavirus pandemic has seen Freshfields Bruckhaus Deringer suspend its latest quarterly partner distributions along with bonuses and reviews.
For the three months to April, the law firm will not be paying to partners and it has put a freeze on pay rises for its lawyers globally. It has also delayed a decision on bonuses until later in the year, according to reports from Law.com.
Freshfields operates 27 officesz globally with over 2000 lawyers and almost 5000 staff iin total.
Temporary flexible working arrangements and reduced hours will also be offered by the firm for those who are interested.
“We are focused on supporting our people and continuing to serve our clients as we all adapt to the social and economic uncertainties,” a Freshfields spokesperson said.
“We are managing our business responsibly and will continue to invest in our business for the long term.”
Equity partners’ remuneration at the magic circle law firm rose 6 per cent to £1.8m in the 12 months leading up to the end of April 2019, making them some of the highest paid corporate lawyers in the City.
Recent Law News For You
- Zantac Lawsuit Review of Top Zantac Law Firms
The Zantac lawsuits continue but what and who are some of the major … - The 5 simple steps of law and divorce
The steps towards divorce in different jurisdictions differ and LawFuel has asked UK … - BigLaw Japanese Firm Opens in London
One of Japan’s biggest law firms has opened an office in London, its … - Latham & Watkins & Their Pro Bono Trans Gender Mermaid Project
Latham & Watkins recently provided information about their ‘affinity groups’ involved in pro …Latham & Watkins & Their Pro Bono Trans Gender Mermaid Project Read More »
- On Her Majesty’s Legal Service: The Lawyers Who Keep The Queen’s Affairs Quiet
The death of The Queen has raised questions about the nature and disposition …On Her Majesty’s Legal Service: The Lawyers Who Keep The Queen’s Affairs Quiet Read More »
- Former Clyde & Co Labor & Employment Lawyer Joins Locke LordLONDON 5 September 2022 – Nick Elwell-Sutton has joined Locke Lord’s London office as a Partner …
Former Clyde & Co Labor & Employment Lawyer Joins Locke Lord Read More »
- Can London Laws’ Legal Boom Go Bust?
Massive legal fees in a booming legal market have means that the deal … - The Dashing Lawyer and the “Monstrous” Legal Fees In Rooney v. Vardy Case
. . and leading UK Litigator’s views on the social media pressure to …The Dashing Lawyer and the “Monstrous” Legal Fees In Rooney v. Vardy Case Read More »
- London Lawyers Macfarlanes Lifts Their Money Game
While the big money from Big Law in London has largely focused on …London Lawyers Macfarlanes Lifts Their Money Game Read More »
