Having reported profit drops, staff at international UK-based law firm Simmons & Simmons were asked in early June to cut their pay by 20% and transition to a 4-day week for up to six months. This follows other measures taken by the firm to withstand the consequences of the coronavirus pandemic lockdown.
Amjad Rihan, an ex-Ernst & Young (EY) partner and whistleblower, sued the firm for an alleged cover-up on gold smuggling for suspected money laundering purposes in an audit report for Kaloti Jewellery International (Kaloti), the United Arab Emirates’ largest gold refiner in 2013.
Though the Coronavirus crisis will likely continue to affect the world of business for the foreseeable future, many law firms and commentators are beginning to consider what lessons can be learned from the crisis. The question, therefore, becomes, what could/should a post Coronavirus law firm look like?
Around 20 of the UK's top firms have taken advantage of the Job Retention Scheme and furloughed part of their staff. Among the firms using the scheme are DLA Piper, Taylor Wessing, Eversheds Sutherland. The scheme sees that 80% of employees’ salaries are paid by the government (up to £2,500 monthly).
Aria Grace Law is an award-winning virtual corporate law firm founded in 2017 by Lindsay Healy. He was inspired by his two young daughters to create a law firm like no other: one that provides equality, diversity, equal pay and equal profit share for all of its lawyers, while at the same time providing City law firm standards of excellence.