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Big firms cut both salary and bonus pay-outs
Pic: RollingNews.ie
11 May 2020 / employment Print

Big firms cut both salary and bonus pay-outs

Both pay and bonuses have been cut at top firms in response to the coronavirus lockdown.

McCann FitzGerald, William Fry and Arthur Cox have all cut back on salary outgoings.

Cut

The Irish Times has reported that McCann FitzGerald has both cut working hours and salary by one-fifth for a four-month period. However, salaries have been pegged at €38,000 at the lowest rate.

William Fry has also introduced pay cuts on a sliding scale, with the highest earners’ pay down by one-fifth.

Arthur Cox, meanwhile, will not give bonuses this year, and has cut equity partner distributions. Some fixed-term support staff have also been laid off at the firm.  

Gazette Desk
Gazette.ie is the daily legal news site of the Law Society of Ireland

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