Reed Smith cutting associates’ salaries 10%
Headline News
The Reed Smith law firm said it will cut salaries for all U.S. associates by 10 percent across the board, effective July 1.
In an internal memo that was originally leaked to the Web site Abovethelaw.com Wednesday afternoon, managing partner Gregory Jordan said the firm had already adopted changes to its business plan because of the recession, changing client demands, and the competitive landscape in the legal industry. Among other things, Jordan said it has meant lower compensation levels for partners, though he did not specify by how much.
A spokeswoman for the Pittsburgh-based firm, which has about 280 employees in Philadelphia, confirmed the authenticity of the memo.
Jordan said the firm will set the salaries for the incoming class of first-year associates in the United States at a later date, but they will be at least 10 percent lower than the current levels. Jordan said the firm will freeze associates’ salaries in its European and Middle Eastern offices, and will set the starting salary for newly qualified associates in the United Kingdom about 10 percent lower than the current level. Asian operations are not affected by the action.
Related listings
-
Computer Expert Sues Leonard Street Law Firm for $775K
Headline News 05/22/2009A computer expert claims in a lawsuit that Minneapolis law firm Leonard, Street and Deinard owes him $775,000 for storing digital evidence in a case involving the city’s two largest newspapers. Mark Lanterman of Computer Forensic Services said he sto...
-
L.A. County courts to close 1 day a month
Headline News 05/20/2009Los Angeles County Superior Court officials announced Tuesday they would shut down court operations one day a month and furlough employees to address a projected $90-million shortfall caused by the state's continuing budget crisis. The county's 600 c...
-
Court candidate Granholm to be at White House
Headline News 05/16/2009Michigan Gov. Jennifer Granholm, one of President Barack Obama's candidates for the Supreme Court, will be at the White House on Tuesday. An administration official says the Democratic governor is coming to the White House for an event unrelated to t...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.