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This morning’s top stories:
Cleveland’s Thompson Hine will impose an across-the-board $17,500 base salary reduction on associates and other non-partner lawyers…
Washington, DC-based Patton Boggs is adopting a new compensation plan for partners, retooling a long-held “eat-what-you-kill” system to reward partner cooperation and business development…
Allen & Overy will cut 450 jobs at a cost of £44 million ($64 million)…
Chicago’s Much Shelist, a business-law firm with about 80 attorneys, will impose a 10% pay cut for partners and associates until May 31, the end of the firm’s fiscal year…
Am Law 100 firm Proskauer Rose’s profits per equity partner dropped 10% in 2008 to $1.4 million…
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