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 from this year and what we can expect for the legal industry in 2018. According to...
The American Lawyer released its annual New Partners Survey, which included responses from 400 lawyers promoted to firm partnerships...
The American Lawyer released its annual A-List rankings of the top 20 “most well-rounded” law firms in the United States. According ...