Greenberg Traurig Offers Voluntary Buyouts With ‘Enhanced’ Severance
“For the past seven months, the coronavirus crisis has ravaged the legal profession, leading to salary cuts, furloughs, and in some cases, layoffs. But some firms seem to have remained completely unscathed by the global economic turmoil that’s been caused by COVID-19,” writes Staci Zaretsky in Above The Law’s Biglaw.
“Take Greenberg Traurig, a firm that brought in $1,641,790,000 in gross revenue last year, earning it 14th place in the latest Am Law 100 ranking, for example. Back in April, we reported that the firm had offered “a good deal of transparency about [its] financial position” and assured attorneys that there would be no layoffs. At that time, there had been no word of salary cuts at the firm, and to our knowledge, throughout the pandemic, no such cuts were made. The firm made it quite far without having to take any major cost-cutting measures, but sources have told us that GT has now decided to roll out a voluntary separation program for full-time staff.”
