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Law360 (April 22, 2020, 4:19 PM EDT ) McDermott Will & Emery LLP has decided to lay off and furlough some staff members, it confirmed Wednesday, becoming the latest firm in a growing list to implement cost-cutting measures during the economic downturn caused by the coronovirus pandemic.
The layoffs and furloughs have primarily affected professional staff, the firm said. Associates, income partners and capital partners haven't been affected by recent COVID-19-related actions, and the firm hasn't eliminated any departments.
McDermott confirmed that the changes are taking place in the U.S. but wouldn't comment on how the adjustments are affecting its other outposts around the world.
Meanwhile, overseas at Dentons, partners and regional business services leaders across continental Europe and Central Asia will forgo 15% to 20% of their monthly incomes, the firm confirmed Wednesday. It will also defer discretionary spending.
Additionally, associates in Dentons' Paris office will be affected by a temporary 10% fee reduction. Also at that outpost, some business support staff members have had their hours cut by 50%, with the plan to return to normal once the situation stabilizes, the firm said.
"We believe these actions are a responsible and measured response to this unprecedented situation, and through our solidarity, we will come out of the crisis even stronger than before," the firm said Wednesday.
The decisions come in the wake of Dentons Europe more than doubling its net profit over the last five years, momentum that carried through the first quarter of 2020, the firm said.
"In the face of this unprecedented global pandemic, like all leading law firms and many of our clients around the world, we must plan for the future and implement sound management actions to mitigate the impact of the economic slowdown on our business," the firm said. "Our priority is to protect the jobs of our people, while also protecting our firm."
Earlier this week, DLA Piper, Clifford Chance LLP, Ogletree Deakins Nash Smoak & Stewart PC, Venable LLP and Taft Stettinius & Hollister LLP joined the crowd of BigLaw firms tightening their belts amid the pandemic.
Other recent cost-cutting measures at firms have included paused partner compensation distributions and reduced associate and senior administrative staff pay.
--Additional reporting by Xiumei Dong. Editing by Stephen Berg.
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