The best news and analysis from Legal Week over the last seven days

Legal Week | Editor's Comment
May 16, 2016

DLA job cuts, lateral partner hiring frenzies and KWM’s City rent hike – the best of Legal Week last week
The best news and analysis from Legal Week over the last seven days

The economy may be wobbling amid fears of Brexit but until last week most of the big UK law firms looked to be avoiding the large-scale redundancies seen at many during the financial crisis.

That stance changed last week when DLA Piper confirmed it would be laying off 18% of its UK business support function - some 200 people - and transferring many roles to Warsaw.

With the firm's Yorkshire offices expected to feel the brunt of DLA's cuts, some partners are now expecting to see a flurry of similar announcements from other firms, safe in the knowledge that the sheer size of DLA means any further culls by rival firms will likely remain eclipsed by the transatlantic giant's round.

King & Wood Mallesons also came in for more negative headlines with the news that the UK arm is facing a significant hike in rent on its City headquarters and that partners had again seen their profit payments delayed, though all were understood to have received their money today.

Elsewhere, we took an in-depth look at all of the lateral hiring activity by US firms in London and elsewhere in the world last year. In a year in which lateral partner hires in the City climbed by 20% to the highest point in years, our stats show the biggest hirers in London as well as highlighting the increasing might of the US firms in the UK, with firm-by-firm partner headcount details.

We also looked at how firms' hires broke down by region, with the analysis highlighting growing activity in Continental Europe and Asia and a distinct lack of investment in the Middle East.

Other highlights on Legal Week last week:
Clifford Chance, A&O , BLP and Clydes named in latest Panama Papers leak

Freshfields hikes newly qualified lawyer pay by 26% alongside flexible working measures

Dealmaker: Travers Smith's Adrian West

Eversheds plans to double financial services consulting revenue
LOD launches online marketplace for flexible lawyers

Top law firm leaders pledge to tackle corruption ahead of anti-corruption summit

Linklaters signs up to AI service

Pinsent Masons and DLA Piper drive through Motorpoint float

Top firms increase hires from disadvantaged backgrounds by up to 50%

Eversheds hit with £2.7m legal claim from Canon Europe

KWM delays partner profit distributions again

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