Today Reed Smith laid off 26 attorneys and 74 staff across its US and UK offices.
Seven of the lawyers are in the US, and the firm has targeted 9 in London for redundancy.
All of the affected associates are in the corporate and real estate practices.
The laid off employees will get severance and outplacement assistance.
Founded in 1877, Reed Smith LLP employs 1500 attorneys in 23 cities worldwide. The firm counsels 28 of the top 30 US banks, and 10 of the world’s 12 largest pharmaceutical companies. In addition to the United States, Reed Smith has offices in the United Kingdom, continental Europe, Asia and the Middle East.