Wake Up Call: Shearman Says It’s Making More Global Staff Cuts

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• Shearman & Sterling is laying off an unspecified number of business services staff in a “global workforce reduction,” a legal blog reported citing an internal message. (Above The Law) New York-based Shearman, whose revenues and profits plunged in in 2022, recently named a new leader after unsuccessful merger talks with Hogan & Lovells. It laid off 38 US attorneys and staff in February. Several other Big Law firms have resorted to job cuts to protect their profits ...