Ninety per cent of Shoosmiths staff earning over £25,000 have agreed to take a 3.5 per cent pay cut, but the 10 per cent who were opposed to the move will not see their earnings reduced.
The firm consulted staff as part of a package of cost-cutting measures, including a pay freeze for 2009-10 and suspension of the Christmas bonus.
Shoosmiths chief executive Claire Rowe said: “There were no threats attached to this voluntary pay cut, only the hope that our staff would support the firm during this difficult economy. While we’re disappointed that there are some staff who couldn’t accept the cut, we don’t intend to impose it.”
In addition to the pay cut, eight posts were made redundant and 51 members of staff are now working flexibly across the firm.