Skadden, Arps, Slate, Meagher & Flom LLP is shuttering its Shanghai office and laid off some staff in the mainland after the law firm’s business was dented by a slowdown in deals amid China’s economic slump.
“Shifting market dynamics have led us to the decision to begin winding down our operations in Shanghai and rescale our China corporate practice,” the New York-based firm said in a statement Friday.
The company has merged its Shanghai operations with the Beijing unit, and some lawyers are being offered the chance to relocate, a person familiar with the matter said.
Skadden is the latest ...
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