Reed Smith set to cut 28 UK jobs in new layoffs
Reed Smith has made its second round of job cuts, with the layoffs affecting US lawyers as well as staff for the first time this recession, writes the Legal Intelligencer. The firm has began a redundancy consultation with nine UK associates and 19 UK staff members, while 17 associates and 55 support staff have been laid off in the US.Firm managing partner Gregory Jordan said the lawyer 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 lawyers cuts equate to about 4% of the firm's associate ranks with the staff cuts accounting for about 5% of the firmwide staff headcount.Severance will be paid to all of the employees in accordance with the firm's severance policy, which includes outplacement services.
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