Biglaw firms are continuing to leave China, closing offices there left and right — and this firm is not only shuttering one office, but it’s also conducting additional layoffs across the country.
As noted by Law.com International, Skadden is calling it quits in Shanghai and parting ways with lawyers in its corporate practice, the firm’s main practice area in China. These moves are being driven by “market conditions.” The firm offered the following statement:
“Skadden is committed to a strong presence across Asia and to serving our clients in the region with excellence,” a Skadden spokesperson told Law.com International. “We continually examine the scope and scale of our practices and operations around the world to ensure that they are aligned with our clients’ needs and our strategic plans.”
“Shifting market dynamics have led us to the decision to begin winding down our operations in Shanghai and rescale our China corporate practice. We will continue to provide outstanding service to our clients from our other five offices in the region.”
For the time being, Skadden will retain its offices in Hong Kong and Beijing. Those affected by the Shanghai office closure have been offered the opportunity to move to one of the firm’s other offices. At this time, it is unknown how many lawyers will be affected by the corporate layoffs.
Which Biglaw firm will be the next say zàijiàn to its offices in China? You can email us or text us (646-820-8477) if you have any intel. Thank you.
Skadden to Close in Shanghai and Make Cuts to China Corporate Practice [Law.com International]
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.
