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One source said the cuts may not affect all of the firm’s associates in the same way over time.

“The associates who are performing on a very high level probably won’t at the end of the day receive pay cuts. They’ll get taken care of in bonuses,” said one of the sources, who spoke on condition of anonymity.

Cuts were made in response to the difficult economy, which has resulted in slower-paying clients, more clients demanding discounts and a decline in demand for legal services.

“The thought process was to preserve associate jobs,” the source said, while noting the firm remains financially strong.

“There’s no doubt that it’s harder to collect money. That’s the case in every business, but Akerman has been strong,” the source said. “They don’t have a lot of debt. They’re in a lot better position than a lot of other firms.”

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