Law Practice
Apr. 3, 2020
Loeb and Arent Fox cut compensation
Los Angeles-based Loeb & Loeb LLP announced across-the-board pay cuts Thursday, joining the list of law firms announcing cutbacks as a result of the economic uncertainty prompted by the COVID-19 virus.
Loeb & Loeb LLP announced across-the-board pay cuts Thursday, joining the list of law firms using compensation cutbacks to weather the current economic uncertainty.
Kenneth R. Florin, chair of the firm, said in a memo the firm would impose temporary 20% reductions in capital partner draws, delay distributions from April to July, cut pay by 15% to income partners, senior counsel, of counsel, associates and senior staff.
<...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In