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Westlaw News

Cadwalader pauses partner distributions, cuts pay for other employees amid pandemic

Cadwalader, Wickersham & Taft is pausing partner pay and temporarily cutting compensation for associates and other employees by up to 25% in an effort to reduce costs without layoffs as it grapples with the economic fallout of the coronavirus crisis.

Patrick Quinn, Cadwalader’s managing partner, told employees in an email on Tuesday that “partners have been told not to expect any distributions during the peak months of the crisis” and that pay for legal staff, including associates, counsel and special counsel, and senior administrative staff will be cut by 25% for approximately the next four months.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2URD5JF

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