Reed Smith confirmed Tuesday that it made its second round of economic-based cuts, saying for the first time in this recession that it is letting go of U.S. attorneys as well as staff.
The firm cut 17 associates and 55 support staff in the United States late Tuesday morning. It also put nine U.K. associates and 19 U.K. staff members into redundancy consultation, putting the firm’s total potential layoff count for Tuesday at 100, according to firm managing partner Gregory B. Jordan. He said the attorney cuts were geared toward the firm’s corporate and real estate practices, where demand is slow and is expected to remain that way in the “near to medium” future. Jordan said the attorney cuts comprise about 4 percent of the firm’s associate ranks and the staff cuts account for about 5 percent of the firmwide staff headcount.
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