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).
While many commentators believe that the current slowdown in legal hiring represents a potential ‘new normal,’ at least ...
Big law firms have always been pathologically conservative in updating their policies, but has this mentality begun to affect their ...
![Ready for a Job Transition? These Are Today’s Top-Paying Practice Areas [infographic]](https://astorsearch.com/wp-content/uploads/2023/11/Ready-for-a-Job-Transition.-These-Are-Todays-Top-Paying-Practice-Areas_1281454505_Altered_Astor-520x350.webp)
Current and prospective lawyers who want to maximize their earnings potential should know which areas of the law pay the most. The l...