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 that there’s plenty to look forward to in 2018, according to partners at two of the largest Am Law 100 f...
2020 treated law firms well, as the surge in COVID-19 related work led to record profits at many of the nation’s largest law f...
Managing partner of Akerman’s Chicago office, Scott Meyers, sat down with Crain’s to discuss the firm’s ...