Corrs Chambers Westgarth has confirmed that it will not be increasing staff salaries this year.
Corrs has followed the lead of several other top-tier firms, including Freehills, Mallesons Stephen Jaques and Clayton Utz, citing "economic and legal market indicators" as the basis for the pay freeze decision.
"Our decision reflects the economic climate and indications of a structural shift in the legal market, which will have implications for the short and medium term. We remain committed to the career progression of our people and their professional development," said Corrs partner and CEO John W.H. Denton in a statement released by the firm on Tuesday morning.
When asked for clarification on partner earnings, a spokesperson for the firm said the decision relates to staff only.
- By Laura MacIntyre