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Reed Smith Cuts 45 Lawyers Plus Staff
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Reed Smith

Summary: In a restructuring move, Reed Smith let go of 45 lawyers and numerous staff from Middle East, European and U.S. offices.

Forty-five lawyers and an undisclosed amount of staff are finding themselves without jobs at Reed Smith after the law firm announced the cuts from their European, Middle East and U.S. offices, the Pittsburgh Business Times reported.

  
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Specifics on the number of layoffs from each office haven’t been released. “As far as specifics on the attorneys affected, we are not providing that level of detail,” spokesman John Buchanan said. The Pittsburgh office is where Reed Smith was founded and is still the largest office with 300 attorneys.

Firmwide managing partner Alexander “Sandy” Thomas provided a statement explaining the firm needed to make some fundamental changes in the demand for and delivery of legal services. They reviewed their staffing model and made the necessary cuts to stay competitive. Cutting 45 attorneys is “less than 2.5 percent of [their] 1,650-attorney population,” according to Thomas.

Thomas went on to state, “The decision to restructure was difficult, particularly because it impacts individuals who have made meaningful and positive contributions to our firm and our clients. We are providing them with resources, including severance pay and professional job transition advisory support, to help them through this period.”

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Reed Smith earned more than $1 billion in revenue last year and had hired over 40 lateral partners.

Source: http://www.bizjournals.com/pittsburgh/news/2016/01/14/reed-smith-cuts-lawyers-staff-in-restructuring.html



Photo: reedsmith.com



 

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