Tracking the impact of
COVID-19 on major law firms

Last updated: 9:29 am ET on May 22, 2020

We have summarized the moves law firms are making to mitigate financial risk, and we will continue to update these indicators over the coming weeks as further information becomes available.

To facilitate benchmarking and deeper analysis, we’ve linked to a tracking matrix with additional details and source information.

53% of firms in our sample (59 of 112) announced the adoption of pay cuts, whereas 14% announced there were no imminent pay reductions.
36% of firms (40 of 112) announced layoffs and/or furloughs, whereas 21% affirmed no layoffs/furloughs in the near future.
59% (66 of 112) announced delaying/cancelling their summer programs, whereas 43% announced delays/reductions in partner draw, and 13% have adopted other expense reduction plans.