Dorsey & Whitney, a firm which made $387,184,000 in gross revenue last year making it 98th on the Am Law 100, has joined the ranks of Biglaw firms making COVID-19 austerity moves. The firm is taking a variety of cost-cutting measures, but, so far, salary cuts and layoffs are off the table.
So what is going on? The firm has capped their monthly equity partner distributions. They are also furloughing staff that cannot perform their jobs remotely, estimated as less than 4 percent of staff. The firm’s contributions to its employees’ retirement plans are taking the biggest hit, with a 33 percent cut.
According to Law.com, the firm said it will “reevaluate its measures from time-to-time and is intent on limiting disruptions to its workforce as much as possible.”
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
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