Reed Smith Restores Salaries, Hands Out Bonuses

Law360, New York (March 5, 2010, 5:54 PM EST) -- Reed Smith LLP reportedly has announced its compensation plans for 2010, bumping up attorney pay to levels seen in the spring of 2009, before the firm cut salaries by 10 percent.

In addition to the so-called raises, Reed Smith attorneys will receive bonuses as usual, “a set structure based on hours,” Above the Law reported Friday, quoting an unnamed source.

Apparently, though, the lawyers were unimpressed by the announcement, the legal tabloid reported.

“I consider the salary a stealth cut,” one source told Above the Law....
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