Law firms take more extensive cuts amid unprecedented crisis

Singapore

SEVERAL well-known law firms in Singapore, including one of the Big Four, have imposed pay cuts across the board - a move not seen in previous crises.

Dentons Rodyk and Big Four firm WongPartnership are among the largest law firms here that have announced firm-wide wage cuts, with both doing so by stripping out lawyers' "front-loaded" bonuses.

Local law firms have over the past decade supplemented lawyers' basic salaries with bonuses that are "front loaded", or paid out in advance every month.

This results in a smaller bonus paid out at the end of the year, but helps keep monthly wages competitive with international firms, which usually do not offer bonuses.

Lawyers and staff at Dentons Rodyk have had their advance bonuse…