DLA Piper misses profit target, slashes bonuses

DLA Piper has announced that UK associates will lose 50 per cent of their bonus. The firm’s bonus scheme provides that 50 per cent of the bonus amount is conditional upon individual performance, and the other 50 per cent depends upon the firm reaching profit targets. Since this year DLA Piper missed its target, UK Managing Partner Andrew Darwin broke the news that associates will lose out come bonus time. The firm’s financial results have not yet been revealed, and it isn’t yet clear whether profits missed the mark by a little or a lot. But Darwin did indicate the intention to change the bonus policy in the future, so that the individual performance component will amount to 75% of the possible bonus rather than 50%.

DLA Piper misses profit target, slashes bonuses rollonfriday.com Tue, Jul 3, 2012