Extra 5% and 3% of salary at each firm
CMS and Clyde & Co join a spate of law firms thanking their lawyers and staff with cash bonuses for their hard work throughout the coronavirus pandemic.
CMS is awarding all employees a bonus of 5% of their salary, whilst Clyde & Co is paying its global workforce a 3% one-off sum.
Clydes, whose workforce consists of around 3,600 people, confirmed the minimum pay-out will be £1,000 meaning that some employees will receive a higher percentage award.
Matthew Kelsall, Clyde & Co’s chief executive officer, said in a statement: “The response of our people to the pandemic and all of the personal and professional pressures that came with it was extraordinary.”
He continued:
“Thanks to everyone’s efforts and their dedication to serving our clients, who themselves needed support in these unprecedented times, we have continued to perform strongly. We’re pleased to be able to recognise everyone’s contribution and say thank you through this bonus.”
On Monday magic circle firm Slaughter and May confirmed all eligible employees will receive a bonus of 5% of salary, mirroring the approach of magic circle rivals Allen & Overy, Clifford Chance and Linklaters, as well as a host of other major City players. And it’s not just cash some firms are rewarding their staff with. Taylor Wessing and Osborne Clarke went one step further with an extra day of annual leave.
