law firm hierarchy

World’s Wealthiest Law Firm Conducts Layoffs Due To Market Conditions

September 1st, 2024Hisyu0 Comments

The highest-grossing law firm in the world is reportedly conducting layoffs — and remarkably, they’re not of the stealth variety this time. As noted by Law.com International, Kirkland & Ellis — a firm that brought in $6,514,300,000 gross revenue in 2022, putting it at No. 1 on the most recent Global 200 — recently handed out pink slips to at least nine of its capital markets attorneys in Asia, where the firm has offices in Beijing, Shanghai, and Hong Kong. Market conditions in the area have been described as “turbulent.” Here are some additional details: The capital markets lawyers were…

Failure to engage on diversity “should feature in performance reviews”

August 30th, 2024Hisyu0 Comments

Ali: Wealth of knowledge continues to grow Failure by lawyers to engage on diversity issues should be “taken into account” and have “consequences” in performance reviews, a report has been recommended. It found that lawyers at large firms from ethnic minority backgrounds stayed on average 18 months less than their White counterparts. Researchers from London law firm diversity network NOTICED – made up of 28 leading City, US and national law firms – said the 2024 Best Practices Report was a follow-up to a similar report published in 2019 and based on roundtable discussions held by member firms. They recommended…