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 its 15th annual A-List rankings of the top 20 “most well-rounded” law firms in the United States. Firms...
The American Lawyer reports that law firm profitability is at a record high, according to a recent report released by ALM Intelligen...
The ABA Journal reports that the legal services sector gained 4,500 jobs in January, with total employment surpassing the previous 1...