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
- UK Law Firm Lodders Launches Biggest Ever Law Recruitment DriveLodders has unveiled plans for its biggest-ever recruitment drive in its 230-year history, …
UK Law Firm Lodders Launches Biggest Ever Law Recruitment Drive Read More »
- ESG Law News – Fieldfisher publishes its first ESG reportThe inaugural internal audit and performance statement for the firm’s UK offices outlines …
ESG Law News – Fieldfisher publishes its first ESG report Read More »
- One Of Largest-Ever Law Claims Reopened With UK Court of Appeal Decision
Australian mining giant BHP is facing the revival of a $7 billion claim …One Of Largest-Ever Law Claims Reopened With UK Court of Appeal Decision Read More »
- Civil Litigation Disrupter Drives Growth With Capital SolutionPURE Business Group agrees new eight-figure funding line with Sandfield Capital. LONDON – …
Civil Litigation Disrupter Drives Growth With Capital Solution Read More »
- Is Lone Legal Blogger Entitled to The Same Protection As Mass Media?
Is a legal blogger entitled to the protection of the mass media – even if writing ‘puerile posts’? - Knights’ Results Show 39 Per Cent Revenue Growth With Continued MomentumContinued momentum, building on the critical mass achieved Knights, the UK’s fastest growing …
Knights’ Results Show 39 Per Cent Revenue Growth With Continued Momentum Read More »
- “Solid & Stable” Revenue Growth For CMS
CMS UK disclosed a muted set of financial results this week with revenues … - ‘Win Sum, Lose Sum’ Game for Eversheds As Lawyers Leave in Europe, But London Lawyer Pay Rates Skyrocket
Global law firm Eversheds Sutherland may have lost lawyers in Europe following a … - Management Shakeup At Slaughter & May To Modernize Law Firm Structure
Management changes at Slaughter & May have seen the Magic Circle law firm …Management Shakeup At Slaughter & May To Modernize Law Firm Structure Read More »
