Law360, New York (September 28, 2009, 4:02 PM ET) -- Intellectual property law firm Townsend and Townsend and Crew LLP has told associates in an internal memo that it plans to cut salaries in 2010 — starting first-years at $145,000 — and that by 2011, it will launch a merit-based pay scheme.
Legal blog Above the Law on Friday posted the Townsend memo apprising associates of the new salary structure, and a firm spokesman verified the authenticity of the memo Monday.
“After much deliberation and consideration of the various issues involved, including the thoughtful input of...
IP Firm Townsend Joins Ranks Of Salary Slashers
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