Burness Paull drops firmwide bonuses

Scottish firm Burness Paull has discontinued firmwide bonus payouts following declining financial performance in 2015/16. Although turnover increased by 3.9 per cent to £53.3m last year, profit to full-equity partners fell by 2.3 per cent to £21.1m. Chairman Philip Rodney cited Brexit uncertainty as a key factor affecting 2015/16 financial performance. In previous years, the firm awarded bonuses based on financial results, with last year’s bonuses amounting to around 7.5 per cent of employees’ individual salaries. The firm has reported that upcoming bonuses will be reviewed on an individual basis.

Burness Paull drops firmwide bonuses thelawyer.com Tue, Aug 16, 2016