US firm reports fall in revenue and PEP in the year before the exit of 45 lawyers and other staff
March 10, 2016 at 05:43 AM
1 minute read
The original version of this story was published on Legalweek
In the year leading up to 45 lawyers and additional staff being cut at Reed Smith, the firm saw profit per equity partner (PEP) fall 8.3% and revenue drop 2.5%, the firm’s results reveal.
Global managing partner Sandy Thomas said the 2016 layoffs had nothing to do with the decline in core financial metrics in 2015.
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