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Clifford Chance imposes pay freeze
FREEHILLS is now in good company, joined yesterday by Clifford Chance as being in the league of big firms with pay freezes.
The New Lawyer
The UK magic circle firm is the latest to impose a freeze in response to the global economic downturn.
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Salaries for all lawyers and support staff globally will be frozen at current levels for the next financial year, which ends April 2010, TimesOnline reports.
Newly qualified solicitors will get pay cuts of around £7,000 ($14,500), down to £59,000, under the Clifford Chance crunch. Rivals Allens & Overy and Freshfields Bruckhaus Deringer have made similar moves in recent months, as have a host of smaller UK firms.
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