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Thelen Reid is the latest firm to announce layoffs, confirmed by AbovetheLaw reporting a layoff of 26 associates and 85 staff firm-wide. That’s a layoff rate of around four per cent of Thelen’s total headcount of 600 lawyers.
Thelen co-chair Stephen O’Neal told ATL that the layoffs were spread out among groups, but with “some areas more impacted than others,” including certain parts of capital markets and cap-markets-related real estate work. He noted that other practice areas are “thriving and increasing in scope,” including renewable energy, cross-border M&A, China practice, litigation, and workouts / bankruptcy.