Biglaw Firm Assures Associates They Will Not Cut Salaries Or Furlough Lawyers

Bucking trends, the firm is having a great financial 2020.

onApril 2, 2020 at 2:29 PMApril 2, 2020 at 1:47 PM

2020 is pretty damn scary. The global pandemic is ruining pretty much everything, and that includes the economy. Biglaw is reeling — layoffs, furloughs, and salary cuts are being announced with a disturbing frequency (if you’d like to sign up for ATL’s Layoff Alerts, please scroll down and enter your email address in the box below this post). Even at Biglaw firms that haven’t taken cost-cutting measures thus far, associates are looking over their shoulders, worried that their firm will be the next to announce cuts.

But at least one firm has taken the the time to reassure associates that the coronavirus economic upheaval will leave them unscathed. Yesterday, the Executive Committee at Cahill Gordon sent an email to all associates touting the firm’s storing financials, buoyed by “the strongest first quarter results in the Firm’s history.” And the email went on to let folks know not to expect cuts at Cahill:

There have been recent reports of some law firms taking steps to manage their expenses by reducing attorney salaries and furloughing lawyers. Please rest assured that the Firm is not considering any actions like this, We are extremely gratified by the efforts and cooperation of our attorneys during this difficult time. It’s great to see our lawyers step up to the challenge of working under these conditions. We are highly appreciative of all your efforts and we recognize ow fortune we are to have you as part of the firm.

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Kudos to the firm for taking at least a little of the stress folks are feeling right now off the table.

Above the Law has also heard rumors (but not substantiated, yet) of other Biglaw firms trying to reassure associates there won’t be layoffs or other cuts. If your firm has made these overtures, please reach out! Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477).

headshot 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).