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 2018 issue, Chicago Lawyer published results from their 16th annual survey of Illinois’ largest law firms and sp...
The American Lawyer released their annual Global 100 report, ranking the top law firms across the world. The report is based on gros...
The frenzy of mergers between IP boutiques and national full-service firms shows no signs of abatement, The American Lawyer reports....