Dewey to Delay Bonuses till May
Dewey will be handing out bonuses to its associates no later than May 31. The firm normally pays out by April 1. The amounts range from $7,500 to $42,500. The firm has said that this was necessary as part of its efforts to manage expenses while it renegotiated its credit line with its lenders.
Dewey has also started fighting back against all the negative media stories. Dewey Chairman Steven Davis gave a pep talk during the monthly Wednesday partners meeting, praising the firm's performance so far this year. The firm has also hired the services of PR expert Michael Sitrick. So far 30 partners have left the firm this year, bringing the total partner number to 269 and a total of around 1,100 lawyers.