Orrick, Herrington & Sutcliffe has announced its plan to freeze salaries in 2009. Its 670 associates can expect the same salary from 2008. The firm explains that this is in result of a “challenging business environment”, which assuredly, also resulted in their 40 lawyer layoff in November. Those who survived the redundancies, will still receive their 2008 bonuses, ranging from $25,000 to $85,000.

Source:  www.amlawdaily.typepad.com