Layoffs
Reed Smith lays off about 2% of global workforce, including lawyers
“These are probably not the last reductions in force that we’re going to see,” said Kate Reder Sheikh, a legal recruiter for legal recruiting firm Major, Lindsey & Africa. Image from Shutterstock.
Reed Smith says it has laid off less than 2% of its global workforce because of “a reduced level of demand for legal services across the industry.”
The cuts include lawyers and professional staff members, report Law.com, Bloomberg Law, Reuters and Law360.
Unnamed sources told Law.com that the cuts affect about 20 staff members and 30 lawyers.
Reed Smith is providing outplacement services and severance benefits for up to four months, depending on seniority, according to Law.com.
The layoffs show “the powers sits with law firms now and not with associates,” said Jennifer Henderson, partner and co-founder of legal recruitment firm Hatch Henderson Fivel, in an interview with Bloomberg Law.
Kate Reder Sheikh, a legal recruiter for legal recruiting firm Major, Lindsey & Africa, also spoke with Bloomberg Law.
“These are probably not the last reductions in force that we’re going to see,” Sheikh said.
