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Ashurst to pay one-off bonuses to staff
Multinational law firm Ashurst has become the latest BigLaw player to make bonus payments to its staff across the globe, in the wake of the firm’s performance since the onset of COVID-19.
Jerome Doraisamy
Ashurst has announced it will make a one-off special payment of £1,000 – or the equivalent in local currency – to eligible employees across each of its 29 offices, including its Australian offices.
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The firm said it is increasing its bonus pool by 100 per cent for this financial year, which has the effect of doubling the size of its existing bonus pool. Bonuses, and the one-off payments, will be paid in July 2021, in accordance with the firm’s usual timetable.
Speaking about the one-off bonuses, Ashurst global managing partner Paul Jenkins (pictured) said that the firm’s staff have made “extraordinary contributions” to the business, their teams and clients over the course of what has been a “challenging year with significant market disruption”.
“As a result of a great team effort, we have performed well this year and we predict a relatively strong finish to the financial year. In recognition of that, we are increasing our bonus pool by 100 per cent, or doubling the size of the existing bonus pool, which will include a one-off reward of at least £1,000 or equivalent to staff,” he proclaimed.
“Allocation of the increased bonus pool will recognise high performance across all roles in the firm.
“We want to thank staff for the contribution to the firm’s success this year and we are looking forward to our collective achievements continuing in the year ahead.”
The news follows Lawyers Weekly reports that fellow global firms Herbert Smith Freehills and Clifford Chance had made one-off payments of 5 per cent of salary to all staff members. You can read those stories here and here.
