Ruden McClosky Joins List Of Firms To Chop Pay

By Anne Urda

Law360, New York (June 30, 2009, 12:00 AM ET) -- Joining legions of other firms, Florida powerhouse Ruden McClosky is reportedly cutting the pay of associates and nonequity partners by 9 percent, with equity partners unlikely to be reimbursed the 18 percent of their pay previously held back.

The Daily Business Review reported Tuesday that the firm had decided to impose the salary reductions after taking a serious hit in the realm of real estate transactional work.

The pay cuts follow the firm's decision to let go of two attorneys and an estimated 18 staffers earlier...
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