Schnader Slashes Associate Pay; Partners Agree to Pay Cut

Schnader, which held layoffs in April, has cut associate salaries by $10,000; and partners have agreed to a 5% reduction in compensation.

Staff who make more than $60,000 a year are taking up to 5% in pay cuts.

The firm blames the economic meltdown.

Schnader Harrison Segal & Lewis LLP was founded in Philadelphia in 1935 by former Pennsylvania Attorney General William A. Schnader. Today, the firm has more than 200 attorneys in seven offices nationwide.