This morning’s top stories:

Morrison & Foerster has frozen associate salaries, and revised its associate discretionary bonuses to as low as $6,000 for 2008…

Am Law 100 firm Cravath, Swaine & Moore saw 2008 gross revenue fall 13%, while profits per partner dropped 24% to $2.5 million…

  

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Buchanan Ingersoll & Rooney eliminated between 25 and 30 administrative positions Thursday…

The National Law Journal reports that major firms brought on as many new associates in 2008 as they did in 2007, leaving them with many new hires despite the current industry-wide layoffs…

Faegre & Benson has announced the layoffs of 58 staffers.