Sheppard Mullin offers voluntary retirement to secretaries
Sheppard Mullin has announced the intention to reduce the ranks of legal secretaries. Chief operating officer Ted Tinson has introduced a voluntary retirement program, to be offered to certain employees age 65 and over in offices in California, with the possibility of further cutbacks among the administrative staff in the future.
According to reports, the terms of the voluntary retirement program offer two weeks of salary for every year of service, capped at a certain number of years (around 18 to 20), and an additional payment of several thousand dollars to go towards health insurance costs.
The firm reported a solid result in 2013, with a 6.6 percent increase in gross revenue, and profits per partner down just slightly (1.6 percent) to $1.25 million.