Slaughter and May reinstates partner pay, while other firms pay back furlough cash
updated on 14 October 2020
Magic circle firm Slaughter and May will reinstate partner pay after it was put on hold following the outbreak of covid-19.
Quarterly partnership distributions have been reinstated, while annual salary reviews remain on hold, according to senior figures at the firm. Slaughter and May partners are understood to be paid on average £2.9 million. It has been reported by The Times that bosses at the firm have not confirmed whether annual bonuses, usually paid in December, will be paid as normal this year.
Meanwhile, Norton Rose Fulbright, Osborne Clarke and Herbert Smith Freehills, among other busy firms, are starting to pay back government furlough cash after business turned out to be better than expected.
