DLA Piper, Reed Smith Slash Associate Salaries

Law360, New York (May 20, 2009, 12:00 AM EDT) -- As major firms continue to tighten the belt rather than plunder the piggy bank, Reed Smith LLP and DLA Piper are the latest to practice thrift from the bottom up, cutting associate attorneys’ salaries by 10 percent.

On Wednesday, Reed Smith issued a firmwide e-mail notifying associates that as of July 1, 2009, salaries for U.S.-based associates will be reduced by 10 percent across the board, with the incoming crop of first-year attorneys potentially taking a bigger hit.

While the firm hasn’t yet made a final...
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