Legal document archive firm LexisNexis has announced it is freezing salaries at 2008 levels.
In order to address what is shaping up to be a more challenging 2009, the senior LexisNexis management team, which includes the leaders of all business and functional units, has had to make some difficult decisions. These decisions include freezing salaries at 2008 levels across all of LexisNexis Group…Except for a promotion or when an increase is required by local law, no one in LexisNexis Group will receive an increase in 2009…
It is our sincere hope that these steps will enable us to otherwise minimize any job reductions to deal with the economic downturn. Of course, no one knows how the balance of 2009 will unfold.
ATL points out that Lexis already laid off 300 employees last April.
LexisNexis is a popular searchable archive of content from newspapers, magazines, legal documents and other printed sources.