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).
Law firms had their best revenue growth in the first half of the year since the recession, with 5.5 percent growth in the first six ...
The American Lawyer reports that recent data released by Working Mother Media reveals that the legal industry is showing p...
In the latest March 2018 issue, Chicago Lawyer published results from their 16th annual survey of Illinois’ largest law firms and sp...