Anglo-German law firm Taylor Wessing is asking for voluntary deferrals from its September 2009 and September 2010 incoming associate classes.
The 750-attorney firm will pay a stipend of £7,500 ($10,872). Deferred trainees will not be required to accept public interest fellowships.
The firm is offering its employees two extra weeks off each year, in exchange for a 4% reduction in salary. Taylor Wessing also plans redundancies, voluntary and involuntary, and unpaid furloughs.
Taylor Wessing LLP is an international law firm established in 2002, following the merger of UK law firm Taylor Joynson Garrett and German law firm Wessing. The firm has 13 offices around the globe; in Berlin, Brussels, Cambridge, Dubai, Düsseldorf, Frankfurt am Main, Hamburg, London, Munich and Paris, as well as representative offices in Beijing, Shanghai and Alicante, Spain.