Mega-firm Reed Smith had a rough year in 2015, The American Lawyer reports–a year that perhaps led to the highly publicized 45-lawyer layoff in January 2016. According to their annual Am Law 100 report, gross revenue fell 2.5 percent, revenue per lawyer went down by 1.4 percent, and profits per partner declined an alarming 8.3 percent.
However, global managing partner Sandy Thomas called the results “solid,” and told press that the layoffs were simply an “efficiency measure,” although he also referred to the slumping commodities market, noting that “we are not immune,” (as quoted in The American Lawyer).
The American Lawyer released their annual Global 100 report, ranking the top law firms across the world. The report is based on gros...
The American Lawyer reports that there’s plenty to look forward to in 2018, according to partners at two of the largest Am Law 100 f...
Law firms have a lot of room to increase leverage, despite clients pushing back against the use of more junior lawyers, reports ALM ...