No Bonuses? Pay Freezes? How About Having to Pay to Work?

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Above the Law quotes an unnamed source at Clifford Chance , that partners will have to actually pay the firm to keep their jobs:

[A]s a Christmas “bonus” this year, partners at Clifford Chance were each required to make a capital contribution of £100,000 (roughly $150,000). Ouch.

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Other firms have required their non-equity partners to buy into equity status, as a way of raising money.

Clifford Chance LLP is the largest law firm in the world, both by number of lawyers and by revenue, and one of the UK’s “Magic Circle” firms. Its headquarters is at Torchwood Tower Canary Wharf in London.

Via ATL.