DLA Piper’s New Zealand office has cut partner drawings and staff pay by up to 30 percent but avoided making redundancies, as the firm joins others in its battle to deal with the COVID-19 pandemic.
As LawFuel recently reported on moves by global law firms to cut drawings and pay during the ‘coronapocalypse’, the moves are hardly unusual although there is little reporting on what other New Zealand law firms are doing to reduce overheads.
US law firms like Cadwalader, Wickersham & Taft and Reed Smith have come under greater financial pressure than UK law firms like Allen & Overy and DLA Piper, the Financial Times reported. However the situation is very much a ‘reducing feast’ as firms continue to assess their financial situation.
DLA Piper New Zealand, part of the global network across 40 countries, has over 100 staff across its two offices and was one of the major law firms that did not take the government’s pay subsidy which six of the major firms did take, before returning the funds to the government amid considerable publicity.
[adrotate banner=”92″]
Read More New Zealand News
- 7 Reasons Disability Claims Are DeniedArticle source: Chisholm Chisholm & Kilpatrick Ltd Florida is home to more than 1.5 million… Read more: 7 Reasons Disability Claims Are Denied
- How Legal Support Simplifies the Auto Accident Claims ProcessArticle source: Blakeley Car Accident and Injury Lawyers Jacksonville, with its sprawling roadways and bustling… Read more: How Legal Support Simplifies the Auto Accident Claims Process
- Former MinterEllisonRuddWatts Counsel Joins Hesketh HenryHesketh Henry has appointed Simon Gray as a partner to lead our banking and finance… Read more: Former MinterEllisonRuddWatts Counsel Joins Hesketh Henry
- BigLaw Pay – Taylor Wessing’s Top Rainmaker Banks the Legal Equivalent of a Premier League Salary
Taylor Wessing’s highest-earning partner managed to haul in a whopping £200,000 a week in the latest financial year — that’s roughly the same as a Premier League striker on a good bonus season. It highlights just how ludicrous top-end pay has become in London’s legal market. According to Law Society Gazette, the top-paid LLP member at Taylor Wessing managed to net that £200k-a-week haul as profits were dished out across the partnership. That kind of pay packet makes even the notorious Cravath scale seem almost modest. Sure, mid-market firms can cry “but we’re all about work-life balance,” but when your top partner’s annual take amounts to north of £10m, it’s hard not to feel the sting of disparity. - How Car Accident Lawyers Protect Victims After Serious CollisionsArticle source: Mission Focus Legal Group Injury Attorneys In Connecticut, motor vehicle collisions remain a… Read more: How Car Accident Lawyers Protect Victims After Serious Collisions
- High Court Upholds £50,000 Legal Ombudsman Payout Against Law Firm
The UK High Court has firmly slammed the brakes on a law firm’s attempt to… Read more: High Court Upholds £50,000 Legal Ombudsman Payout Against Law Firm - Reed Smith Recruit Former Gowling WLG Tech and Corporate Lawyer in London
Reed Smith have secured former corporate and technology partner at Gowling WLG, David Brennan as… Read more: Reed Smith Recruit Former Gowling WLG Tech and Corporate Lawyer in London
