Law360, New York (August 28, 2009, 3:23 PM ET) -- King & Spalding LLP has reportedly become the latest firm to slash employees' salaries, targeting associates, of counsel and other staff members.
The annualized salary for U.S. partner-track associates will be equal to their 2008 salary, effective Sept. 1, and partner-track associates in Atlanta and Charlotte will see an additional market-based reduction equal to an annualized $10,000, according to an internal memo posted by the legal blog Above the Law.
The salary for U.S. counsel, other lawyers and consultants will be reduced by 5 percent, according...
King & Spalding Cuts Salaries For Associates, Others
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