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Law firm memo suggests bonuses will be flat

The Wall Street Journal is reporting an early sign that year-end bonuses at law firms will be flat this year.

The newspaper says it reviewed an internal memo from the New York firm of Cravath, Swaine & Moore in which it told its junior lawyers not to expect bonuses larger than they were last year.

The Journal says law firms that regard themselves as competitors to Cravath traditionally match its bonus scale for their own employees.

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