I was specifically told it was related to the virus and economic crisis. I was not even at BT long enough to have a review and I never received anything but compliments on the value I brought to the firm. To be fair I wasn’t charging a ton of hours but had been tasked with New Business Development and that had been my main focus.
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I’ve talked to friends in other offices, and one was more like 5% and another was just one person. So no across the board hit.
But with that said, CEO said on this morning’s regularly scheduled all-hands call that future actions are being considered if they become necessary — he said everything that other firms are doing is on the table. Layoffs, furloughs, pay cuts … but said nothing is happening for now. My partner (who I really trust) said that he heard the same on partner calls. Everything is on the table but nothing is contemplated in the near term.
I can confirm that partners took a pay cut. And my local office three weeks ago told us the firm was not planning layoffs anytime soon.
It came out of left field. Senior managers in my office were not consulted, said they did not know anything about it.