The American Lawyer reported yesterday that …
US law firm giant Dechert has confirmed to The Am Law Daily that the firm’s 36 highest-paid partners have agreed to take a cut in their annual draw.
This news follows a Philadelphia Inquirer report that firm Chairman Barton Winokur would take a $1 million pay cut.
The American Lawyer writes:
The Inky cited an anonymous source who said Winokur disclosed the "self-imposed" pay cut at a conference of law firm leaders he attended late last month in Pebble Beach, Calif. The event was sponsored by consulting firm Hildebrandt International, a division of Thomson Reuters.
Winokur declined to comment to The Am Law Daily on the Inquirer report. A firm spokeswoman confirms that Winokur, along wth 36 other Dechert partners, are taking pay cuts. The spokeswoman denies that Winokur’s reduction amounts to $1 million.
See the full report at http://www.law.com/jsp/article.jsp?id=1202430656208
