Skadden Nixes Counsel Raises For '09

Law360, New York (May 1, 2009, 12:00 AM EDT) -- Counsel at Skadden Arps Slate Meagher & Flom LLP received a memo recently titled "Compensation," which disabused them of any notions that they might receive a salary increase in 2009.

On Friday, the firm verified the authenticity of the memo that legal tabloid Above the Law posted on its Web site on Thursday. "Given the current economic conditions and the level of activity within the firm, we have decided that we will not be increasing salaries for counsel in 2009," the memo stated.

"As always, payment...
To view the full article, register now.