I don’t know about you, but I sure could use some good news. I don’t expect an election result today. So how about some biglaw news? Like maybe a biglaw company that deals with COVID austerity and brings in a few extra bonuses.
Thank you for the election news from Baker Botts.
After Baker Botts previously announced a plan for “collective sacrifices” to overcome the global health crisis, he changed course. In July, the wage cuts – 20 to 30 percent based on the salary level for lawyers, 20 percent for employees, and 0 to 20 percent based on the salary level for employees – were reduced by 50 percent (at the employee level, which made it fair 10 percent ). And now the company has announced that all COVID salary cuts will be reversed from November 1st.
Additionally, when they announced the rollbacks in July, they ran a series of interim bonuses for the period May 1 through July 31. With the announcement of this rollback, another round of bonuses is due:
As mentioned in previous announcements, we will also be giving time awards to non-partner timekeepers who have made exceptional contributions over the past few months. Bonus eligibility is determined based on a number of factors, including utilization and exemplary customer service, for the period August 1 to October 31, which will be recorded in accordance with the Company’s time entry guidelines and deadlines. To be eligible for this interim bonus, which is paid before the end of the year, the timekeepers must be in good standing and actively employed by the company at the time of payment.
Read the full email on the next page.
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Kathryn Rubino is Senior Editor at Above the Law and host of The Jabot podcast. AtL tipsters are the best so please connect with her. Feel free to email her tips, questions, or comments and follow her on Twitter (@ Kathryn1).