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).
In the latest March 2014 issue, Chicago Lawyer checks in on the state of ‘midsize’ law. Drawing from the recent success ...
The “vast majority” of lawyers and staff from Houston-based IP boutique Novack Druce Connolly Bove & Quigg will be a...
Law360 released its fourth annual Glass Ceiling Report, which surveyed 300 law firms on gender diversity and ranked firms based on t...