Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 16 APRIL 2020

Executive Compensation Considerations For COVID-19 (Salary/Wage Reductions)

Proskauer Rose LLP
Proskauer Rose LLP
Contributor
Proskauer Rose LLP

Proskauer Rose LLP

Firm Overview Proskauer is an elite global law firm with more than 900 lawyers across key financial...

View firm profile
Explore more from Proskauer Rose LLP

COVID-19 has had significant impacts on all aspects of business. While employers are assessing how to handle immediate employee needs related to sick leave

United StatesEmployment and HR
Andrea Rattner
Andrea Rattner
Colleen Hart
Colleen Hart
Joshua Miller
Joshua Miller
Seth Safra
Seth Safra
Kate Napalkova
Kate Napalkova
Author LinkedIn connections

COVID-19 has had significant impacts on all aspects of business.  While employers are assessing how to handle immediate employee needs related to sick leave, family leave and benefits claims, employers should also consider the impact that changes in their workforce or economic conditions will have on their compensation plans and programs.

Click here to read the next post in a series addressing the impact that COVID-19 has had on executive compensation issues.  In their second post, our colleagues Andrea Rattner, Colleen Hart, Josh Miller, Seth Safra, Kate Napalkova and Katrine Magas discuss certain issues that employers should take into consideration before implementing salary and wage reductions.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Treasury Issues Temporary Regulations On Trump Accounts And Contributions

The U.S. Department of the Treasury and IRS recently issued temporary regulations that provide an immediately effective framework for establishing and administering “Trump Accounts,” including broad automatic enrollment and large-scale contributions funded by governmental and charitable donors. The regulations became effective September 30, 2026, apply to taxable years beginning on or after January 1, 2026, and expire September 30, 2029.
United StatesEmployment and HR
Fennemore Craig, P.C.
Fennemore Craig, P.C.
Article

IRS Issues New Revenue Procedure

The IRS has released Revenue Procedure 2026-24, establishing new inflation-adjusted limits for Health Savings Accounts and high-deductible health plans effective in 2027. These updates include increased contribution limits, higher minimum deductibles, and expanded out-of-pocket maximums, along with new provisions for direct primary care service arrangements under the One, Big, Beautiful Bill Act. How will these changes impact employee benefit planning and healthcare coverage strategies?
United StatesEmployment and HR
Winston Taylor
Winston Taylor
Article

Allegheny County Council Passes Paid Parental Leave Policy

On Tuesday, October 20, 2026, the Allegheny County Council passed legislation requiring employers with at least 15 workers to provide 12 weeks of paid parental leave, ending months-long debate on the proposal. We previously reported on the initial 18-week proposal in May 2026 (summarized here), the revised proposed legislation (summarized here), and the Allegheny County Board of Health passing the legislation (summarized here). The measure was passed in an 11-4 vote. It will become effective in one year, as County Executive Sara Innamorato signed the bill on, October 22, 2026.
United StatesEmployment and HR
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

DOL Announces Enforcement Actions Against Employers In H-1B And PERM Fraud Probe

The Trump Administration has launched an unprecedented enforcement action suspending permanent labor certification processing for eight major employers, linking immigration sponsorship to layoff histories and recruitment practices. This development signals a fundamental shift in how the government evaluates employer access to H-1B and green card programs, with investigations already underway and subpoenas served.
United StatesEmployment and HR
Mayer Brown
Mayer Brown
Article

Maryland’s Ban On Mandatory Employer Meetings: Notice Deadline Looms

Maryland employers must comply with new posting requirements under the Worker Freedom Act, which prohibits penalizing employees who decline attendance at employer-sponsored meetings on religious or political matters. The Maryland Department of Labor has released official notices in English and Spanish that must be displayed prominently in workplaces and provided to new hires starting November 1, 2026.
United StatesEmployment and HR
Jackson Lewis P.C.
Jackson Lewis P.C.
Article

Countdown To Compliance: Employer Preparations For Nov. 2026 OSHA HazCom Deadlines

OSHA's revised Hazard Communication Standard requires covered employers to update chemical labels, written hazard communication programs, and employee training by November 20, 2026. The revisions align with the UN's Globally Harmonized System and introduce new hazard classifications, downstream use considerations, and updated requirements for compressed gases and aerosols. Employers must navigate separate compliance timelines for chemical mixtures while ensuring their workplace practices meet the updated st
United StatesEmployment and HR
Jackson Lewis P.C.
Jackson Lewis P.C.
Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

CFTC Moves To Reinforce Federal Authority Over Event Contracts As New Jersey Seeks Supreme Court Review

The CFTC has proposed classifying event contracts as swaps while excluding traditional casino-style gambling products, directly responding to ongoing federal-state disputes over prediction markets and sports betting jurisdiction. These regulatory actions seek to clarify the agency's authority over event contracts amid conflicting appellate court decisions and pending Supreme Court review.
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

DOL Pulls The Plug On Plan To Move FLSA Interpretations Out Of The CFR

The U.S. Department of Labor's Wage and Hour Division has withdrawn its controversial proposal to remove nine parts of longstanding Fair Labor Standards Act interpretive guidance from the Code of Federal Regulations. What does this reversal mean for employers who have relied on these decades-old interpretations, and how does the Supreme Court's Loper Bright decision reshape the legal weight of agency guidance going forward?
United StatesEmployment and HR
Proskauer Rose LLP
Proskauer Rose LLP
Article

Parliament’s Position On SFDR 2.0

The European Parliament's Committee on Economic and Monetary Affairs has adopted its position on the Sustainable Finance Disclosure Regulation reform, establishing key divergences with the European Commission and Council on professional investor exemptions and fossil fuel investment criteria. With trilogue negotiations set to begin in October 2026, private markets managers face critical decisions about how to position their funds under the new three-category framework expected to take effect in early 2029.
United KingdomCorporate/Commercial Law
Proskauer Rose LLP
Proskauer Rose LLP
Article

New York State Mandates Employee Access To Personnel Records

New York has enacted legislation granting private and public sector employees unprecedented access to their personnel records, including the right to review, dispute, and potentially correct negative information that could impact their employment status. The law, which takes effect in November 2026, establishes strict timelines for employer notification and record access while providing enforcement mechanisms through the State Attorney General.
United StatesEmployment and HR
Proskauer Rose LLP
Proskauer Rose LLP
Article

New York Employers May Soon Face New Separation Agreement Procedural Requirements

New York State Legislature has passed a bill that would require employers to provide employees with a minimum 21-day review period and 7-day revocation window for separation agreements involving the release of claims. The proposed "No Severance Ultimatums Act" extends procedural protections similar to those under federal age discrimination law to all covered severance agreements, regardless of employee age, and awaits Governor Hochul's signature.
United StatesEmployment and HR
Proskauer Rose LLP
Proskauer Rose LLP