Double Whammy for Some at Seyfarth: Deferred Start Plus Pay Cut, Too
In a double whammy for some incoming associates who expected to start work at Seyfarth Shaw in January, the law firm has deferred half of the incoming class until October—and cut first-year pay for all first-year associates.
Seyfarth is deferring eight of the 16 new associates previously expected to begin working in January and expects to cut the annual starting pay for the entire 2010 class by between 5 and 10 percent, the firm tells Above the Law in a written statement. It says the cuts are being made in response to the economy and client pressure to keep legal costs down.
The associates who are being deferred will receive a $2,000-per-month stipend until October, “to offset any disruption this may cause,” the firm says. “We are telling them that, as conditions improve, we hope to call them to start earlier.”
Earlier related coverage:
ABAJournal.com: “Seyfarth Cuts Pay for Some Partners and Associates, Lays Off 50 People”
ABAJournal.com: “Seyfarth Shaw Says Six Sigma Method Has Cut Client Fees by Up to 50%”
