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).
Law360 released its seventh annual Glass Ceiling Report, which surveyed 300 law firms on gender diversity and ranked the best law fi...
The U.S. legal industry climbed to 1,142,700 jobs last month, returning to last year’s highwater mark set in October, according to r...
Partner moves were at their highest count yet in 2015, the “strongest year since 2009 for lateral partner moves at big law fir...