Hogan Lovells, a historically profitable firm ranking among the top in the nation, has sparked discontent among its associates by not offering special bonuses this year. The move was seen as short-sighted and cheap, particularly given the firm’s strong financial position.
However, Hogan Lovells has responded to the criticism, acknowledging that leadership did not communicate effectively about the decision. In an email, the firm stated that it values its associates’ feedback and is working to address concerns in a positive manner.
While the gesture may be seen as damage control, some argue that the issue was not communication but rather the amount of money offered. The firm’s regional managing partner, Richard Lorenzo, has promised to find ways to address the concerns raised by associates.
Associates are urged to remain vigilant and report when their firms match special bonuses, using a dedicated phone number or email address. Above the Law will continue to provide updates on bonus announcements through its Bonus Alerts system.
Source: https://abovethelaw.com/2024/12/hogan-lovells-does-damage-control-after-stiffing-associates-on-special-bonuses