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 results from its annual Lateral Report, which tracked lateral movement strategies among the nation’s la...
Frustration with high legal fees and demand for local regulatory knowledge may give small and medium-sized law firms an edge with la...
The National Law Journal released the 2016 Intellectual Property Hot List: a special report recognizing 15 law firms that performed ...