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 reports on several key trends for midsize law firms heading into 2019, according to a recent article featur...
The world’s largest law firms are still feeling the heat from their stagnated approaches, as discussed in last week’s po...
In a profession “less diverse than doctors or engineers [who are] 88 percent white,” says Danielle Holley-Walker, dean o...