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Top 10 Entertainment Law Firms Cut Partner Salaries

We still don’t know how to deal with the novel coronavirus ravaging the country, and this lingering economic uncertainty continues to impact law firms. Many companies are cutting expenses as they try to figure out exactly how they will handle the ramifications of their bottom line.

This is true for the New York store, Frankfurt Kurnit Klein & Selz.

The company, ranked 9th in Vault’s Top 2020 Law Firms for Media, Entertainment and Sports is implementing a number of austerity measures to deal with the economic downturn caused by the global pandemic. At Frankfurt Kurnit, these measures include an almost complete hiring freeze, the cancellation of their summer program, the elimination of most overtime, the reduction of partner salaries by 25% and the reduction of 20% of all other lawyer and staff salaries. In the internal announcement, company managing partner Jeffrey Greenbaum said employees should plan for the cuts for the rest of 2020 (they were effective May 1), and whether there will be year-end this year is still uncertain.

We’ve reached out to the company for comment, but haven’t heard back yet.

You can read the full internal email at next page.

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head shotKathryn Rubino is an editor at Above the Law and host of The Jabot podcast. AtL’s tipsters are the best, so please connect with her. Feel free to email her with any tips, questions or comments and follow her on Twitter (@Kathryn1).

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