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
- Boies Schiller Rebounds in London Law Strategic Hire
After a difficult time the London law office of Boies Schiller is regrouping …Boies Schiller Rebounds in London Law Strategic Hire Read More »
- Law Firm Merger – London Law Firms Announce Merger
> Law Career News Here London law firms Seddons and Lawrence Stephens to …Law Firm Merger – London Law Firms Announce Merger Read More »
- The Disruptive Law Firm’s ‘Plug-and-Play’ Business Model That Is Showing The Way For Others
A legal specialty in crofting law and the law of servitudes may not … - Eversheds Sutherland Opens San Francisco Office
SAN FRANCISCO, March 30, 2022 – Global law firm Eversheds Sutherland announces today the opening of … - Could Law Firm Price Comparison Sites Push Smaller Firms Out of Business?Law firm price comparison sites are important marketing avenues but they are raising …
Could Law Firm Price Comparison Sites Push Smaller Firms Out of Business? Read More »
- London Law Buzz On Clyde & Co Merger Will Cement Clyde’s Insurance Law Leadership
Clyde & Co’s role in the insurance law sector will be further strengthened in proposed merger - Who Are The Oligarchs Lawyers And The ‘Lawfare’ Claims Made In Their Names?
Oligarch lawyers in the UK are named and lawfare claims face increased scrutiny - BigLaw Salary Scale For London Lawyers Lifts Higher
The biglaw salary scale just got higher in London following another US-based law …BigLaw Salary Scale For London Lawyers Lifts Higher Read More »
- UK Government’s “Lawfare” Clampdown: New laws on the abuse of British courts to protect free speech
The UK Government has announced new laws relating to the use of libel …
