Billion-Dollar Biglaw Firm to Make True-Up Payments for Cut Salary
“Despite $1,035,000,000 in gross revenue last year” Squire Patton Boggs “instituted COVID-19 austerity measures. Back in May, Squire Patton Boggs announced a 20 percent salary cut for all associates, as well as staff cuts, between 10 and 20 percent, depending on salary, and partner distributions were adjusted to shoulder the largest financial burden. But beginning in October, the salary cuts ended, an excellent sign that the worst impacts of the pandemic were over,” reports Kathryn Rubino in Above the Law’s Biglaw.