Pryor Cashman furloughs some associates during coronavirus crisis
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Pryor Cashman has furloughed some associates whose workflow was affected by the COVID-19 crisis.
The law firm did not reveal how many are affected. Above the Law was first with the story. The New York Law Journal and Law360 also have coverage.
Pryor Cashman said in a statement it hopes and expects the furloughed associates can be reinstated “as soon as their work levels approach norms again.”
Pryor Cashman managing partner Ronald Shechtman told the New York Law Journal the firm is “acting based on the workflow we’re seeing and following closely.”
“The crystal ball that tells us what is coming is not just cloudy at this time, but it is virtually opaque,” he said.
Other law firms that have taken temporary measures in response to work slowdowns include:
• Cadwalader, Wickersham & Taft, which is imposing temporary pay cuts and pausing partner distributions. Legal staff members, including associates, will see a 25% pay cut, as will senior administrative staff members earning more than $100,000 per year, Other administrative staff will see a 10% pay cut.
• Womble Bond Dickinson, where some employees are being laid off and furloughed. The firm has implemented temporary pay cuts of up to 10% for others. The percentage cut will be less for lower-paid employees.
• Reed Smith, which is temporarily reducing partner distributions.
• Marshall Dennehey Warner Coleman & Goggi, which is suspending its 4% employer 401(k) match until next year.
