Reed Smith announced a new round of measures Monday to shore up its finances in the face of the COVID-19 crisis, including an extension of previously announced salary reductions, truncated workweeks for personal assistants, and the elimination of fewer than 20 lawyer positions in London.
The firm said London—its largest office, with over 350 attorneys—would see a “targeted redundancy process” that would impact less than 20 attorneys and 10 professional staffers. The firm appears to be the first major firm with a significant presence in London to lay off fee earners there.
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