Slater and Gordon’s directors and senior executives have taken a voluntary pay cut of up to 15 per cent in a move aimed at giving the firm flexibility to respond to the COVID-19 pandemic.
As the COVID-19 crisis leaves tens of thousands unemployed and charities struggling, law firms are responding by offering assistance to those in need through expanded pro bono work and community outreach programs that provide assistance to the country’s most vulnerable people.
HopgoodGanim will cut equity partner income by 50 per cent and staff salaries and hours by 20 per cent for up to six months to preserve jobs and ensure the sustainability of the firm during the coronavirus pandemic.
In response to the COVID-19 pandemic, lawyers are litigating from their lounge rooms and negotiating contracts on new technology platforms. While the profession has embraced the change, working from home exposes firms to specific IT security risks.
Ashurst will cut partner and staff salaries by 20 per cent to brace for an anticipated slowdown in the markets where it operates due to the coronavirus pandemic.
The novel coronavirus pandemic has forced Australian courtrooms into the virtual world, with many barristers and solicitors litigating via phone or video for the first time. Here, some of Australia’s top barristers offer tips on how to bring your A game into the virtual realm.
While law firms and barristers are bracing for work slowdowns due to the coronavirus, litigation funders told Lawyerly it’s business as usual for them.
Herbert Smith Freehills is reducing partner profit distributions as part of cost-cutting measures in the face of uncertainty wrought by the coronavirus pandemic, and staff salary reviews have been postponed by six months.
While law firms turn to cost-cutting measures to manage shrinking revenues and uncertain cash flow during the coronavirus pandemic, including reducing staff pay and hours, partners may be last in line for a share of what’s left, a legal industry expert tells Lawyerly.
Bracing for a slowdown in work as a result of the coronavirus pandemic and calling on its staff to “face this situation together”, Norton Rose Fulbright is reducing pay and hours by up to 20 per cent for the majority of its 1000 lawyers and support staff in Australia.