TBA Law Blog


Posted by: Stacey Shrader Joslin on Apr 16, 2020

Law firms across the country are taking steps to protect their cash flow by cutting partner and associate salaries, offering unpaid leave, furloughing employees who are not able to work from home, and canceling summer associate programs, Above the Law reports. Two firms with offices in Tennessee recently made news for their actions. Husch Blackwell, with an office in Chattanooga, reportedly cut equity partner draws by 15% percent and salaries for all managing directors and c-level executives by 10%. Ogletree Deakins, with offices in Memphis and Nashville, is reportedly cutting both work-week hours and salaries, with some saying their pay has been cut in half. The firm is also canceling its 2020 summer associate program. The law students who were planning to work at the firm will receive no compensation and no promise of future employment.