In a Firm Spy exclusive, we can reveal that Corrs Chambers Westgarth is rumoured to have implemented a
We received the following anonymous tip last night:
Following the crowd, Corrs froze salaries today.
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Over and above other Australian law firms, the Corrs patnership has used virtually any means open to it to keep precious dollars in the partnership pool.
It started with Corrs closing its office on the Gold Coast at the very outset of the GFC. The firm then calculated that it could give staff money for no chores at Corrs – offering lawyers a percentage of their salary for taking a leave of absence. Next Corrs offerred graduates a whopping $10,000 to defer their graduate position.Then came lawyer and support staff redundancies. Finally, Corrs then took the opportunity to hedge future graduate intakes by teaming up with Freehills in a new government initiative.
Short of rattling tins in the office, what can the Corrs partners now do to save money?
Is it time that partners simply came to terms with earning less money?
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When asked for clarification on partner earnings, a spokesperson for the firm said the decision relates to staff only.
Sounds like the partners will still be making squillions