Seyfarth Shaw announces some layoffs while rolling back salary cuts
Seyfarth Shaw has announced that it is returning staff members to full 2020 salaries, restoring attorney compensation, and bringing back some furloughed employees.
But the news isn’t all good. “Some staff and a small number of attorneys” who were furloughed will be laid off, according to a statement by Pete Miller, Seyfarth chair and managing partner.
Above the Law, Law.com and Bloomberg Law have coverage.
Others will remain on furlough until they are needed. The firm will revisit the status of remaining furloughed employees at the end of the year. While the employees are furloughed, Seyfarth will pay their health insurance premiums.
Laid off employees will receive a severance package that includes a minimum of two months of severance.
Seyfarth had furloughed 10% of its U.S. employees in April. At the same time, the firm cut draws by 20% for equity partners, pay by 10% for other lawyers, and pay by up to 10% for most staff members. Those making less than $60,000 weren’t affected.
Other firms that have announced layoffs include Winston & Strawn, which attributed layoffs to its creation of a new resource center; Cleary Gottlieb Steen & Hamilton; Skadden, Arps, Slate, Meagher & Flom; Nixon Peabody; Baker McKenzie; Davis Wright Tremaine; and Venable.
