International player set to introduce flexi-working scheme in response to pandemic
Trainees at Taylor Wessing are to take an 8% cut in pay and hours as the firm looks to mitigate the financial impact of COVID-19.
The international firm is asking lawyers and staff to sign up to a new flexible working programme, which will see hours and salaries across its UK offices reduced by up to 20%.
Taylor Wessing confirmed first and second year trainees will take an 8% cut under the proposals. Legal Cheek‘s Firms Most List shows rookies receive a salary of £40,000 in year one, rising to £44,000 in year two.
The firm says the aim of the programme — which will begin on 1 June and run for six months — is to make the “proportionate cost reductions necessary” while supporting staff and preserving jobs. Its lowest paid staff will not be asked to participate in the programme.
The firm has also cut partner drawings by 20% and delayed salary reviews until the autumn. Bonuses relating to last year’s performance will still be awarded.
Taylor Wessing’s managing partner Shane Gleghorn said:
“We are fortunate that our business is well structured, our performance across a number of groups is robust and we continue to win great work. Despite the impact of the crisis, we anticipate that many areas of our business will remain busy, which is why having a flexible programme is so important.”
He added: “We believe collective agreement to these proposals will be the best way to enable Taylor Wessing to respond nimbly to the stresses and demands of the crisis, while continuing to support our people and provide excellent service to our clients.”
Last month the firm suspended the distribution of partner profits and furloughed staff whose roles were impacted by the move to remote working.