LEADING IRISH law firm William Fry has made 17 staff redundant and introduced pay cuts of up to 10 per cent in response to the economic downturn.
The firm, one of Ireland’s so-called “big five” legal practices, informed its 400 staff of the decisions yesterday.
The pay cuts will apply to all employees on a sliding scale up to 10 per cent.
In a statement to The Irish Times, William Fry said: "In respect to current market conditions, we have affected a small number of redundancies – less than 20 – and implemented a firm-wide pay cut of up to 10 per cent of salary."
William Fry’s moves follow similar decisions by other large law firms in Ireland. All of the big practices have been affected by the sharp contraction in the economy over the past six months, particularly in the areas of property, and mergers and acquisitions.
William Fry has 63 partners and offices in Dublin and New York. It also has a formal association with Belfast law firm Tughans. In January William Fry announced plans to relocate to new head offices in Grand Canal Square in Dublin’s Docklands.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)