Shakespeares has confirmed that it will be paying all its staff bonuses totalling £400,000 (note to any bankers reading this: that is for all staff together, not for each member of staff).

The firm's turnover target was £48m, and it made a commitment to pay a generous 40 pence of every pound made on top of that into the staff bonus pool. It beat its target by £1m, so staff get to trouser £400k. A spokeswoman wouldn't comment on how this was divvied up but said that the firm was "very proud" to be rewarding all its workers.

It's good news given that the firm hasn't had the easiest time of it recently. In 2013 it made a raft of redundancies and hit staff with pay cuts of up to £10,000. And last year unhappy associates were told that they could each be paid a £5,000 bonus - but only if they billed an extra £100,000 a year.

    Shakey relaxing at home yesterday

Things are clearly now picking up, and an insider claims that the firm's merger with Martineaus should be announced "in the next week or so". Shakespeares' spokeswoman said that the firms were still in talks but nothing had yet been signed.
 
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Comments

Anonymous 08 May 15 18:06

Why won't they comment? So 20p will be divided between all staff or around the grand total of £300 each which is the same for a part timer admin person and a fee earner who worked weekends.

The other 20p is a discretionary bonus which is discretionary ie the criteria is gets on with partners and not objective measures.

Partners meeting on Wednesday so merger and bonus should be announced to staff on Thursday if approved.

A2 partners looking to make over 300k when solocitors are not even on 30k. Guess that's life!