Kaye Scholer is making pay cuts a little differently than other firms. All first and second year associates who on the track of making fewer than 1600 hours this year will lose 20% of what they make the second half of the year. Third year associates stand to lose 15% of their second half earnings if they fail to make their billable hours. If these associates make their hours quota, they will be reimbursed.
Source: www.blogs.wsj.com
