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Law360 (August 28, 2020, 8:52 PM EDT ) Kilpatrick Townsend & Stockton is the latest firm to begin unwinding pay cuts that went into effect during the early stages of the COVID-19 pandemic, with the firm confirming Friday that staff and attorney compensation will return to pre-pandemic levels on Sept. 1.
In addition to restoring salaries, the firm also said that it is returning all secretaries to full time or equivalent hours, and that it will begin returning some attorneys and professional staff to their full hours on a case-by-case basis.
"Not surprisingly, the firm has responded well to the challenges and adversity caused by the pandemic," a firm spokesperson said in an email. "While we are still in a challenging environment, we have looked carefully at our position and feel comfortable returning compensation to pre-pandemic levels."
The email added, "We are incredibly appreciative of our clients who have continued to rely on us for legal service during these difficult and challenging times. We remain extremely grateful for the collective response, contributions, and sacrifices of our lawyers and professional staff."
In April, Kilpatrick confirmed it would be reducing partner draws by 10% and cut salaries for staff and attorneys by 5%. The firm also cut secretary hours by 20%, though their hourly pay rate remained the same. It also announced a hardship fund for employees struggling as a result of the pandemic.
The cuts are similar to those made by other large firms, some of which have also begun to reverse course starting in late July.
On Tuesday, Loeb & Loeb announced it would be decreasing its cuts to attorney and staff pay by 60%, the latest in a string of pay restorations among BigLaw firms that implemented cost-saving measures earlier this year.
Also this week, London-based Kennedys LLP said it would proceed with salary increases that had been postponed due to the COVID-19 pandemic, and Florida-based Holland & Knight LLP confirmed that it had partially rolled back the salary reductions it implemented in the spring due to the COVID-19 pandemic, with both firms citing strong financial performance.
--Additional reporting by Hailey Konnath and Lauren Berg. Editing by Rebecca Flanagan.
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