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Nixon Peabody Slashes Salaries

Nixon Peabody, which laid off 20 attorneys and 36 staff in February, is now cutting salaries.

All associates, including incoming and summer associates, will see a reduction to $145,000 in Boston, Washington DC, New York, Chicago and California; less in other locations. There will also be additional performance-based cuts.

Meanwhile, associates can look forward to merit-based bonuses, based on such criteria as hours worked, new business brought in, community leadership, and “extraordinary contributions to the welfare and advance[ment] of the firm.”

In other words, management will pay whatever they want to pay, with criteria that squishy.

Nixon Peabody LLP is one of the largest multi-practice law firms in the US, with offices in 17 cities in the United States and one in London, and more than 700 attorneys in 25 major practice areas.

Erik Even: