Singapore
SEVERAL well-known law firms in Singapore, including one of the Big Four, have imposed pay cuts across the board - a move not seen in previous crises.
Dentons Rodyk and Big Four firm WongPartnership are among the largest law firms here that have announced firm-wide wage cuts, with both doing so by stripping out lawyers' "front-loaded" bonuses.
Local law firms have over the past decade supplemented lawyers' basic salaries with bonuses that are "front loaded", or paid out in advance every month.
This results in a smaller bonus paid out at the end of the year, but helps keep monthly wages competitive with international firms, which usually do not offer bonuses.
Lawyers and staff at Dentons...