Fourth BigLaw firm closes office in China

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Fourth BigLaw agency closes workplace in China

Legislation Corporations

Fourth BigLaw agency closes workplace in China

By Debra Cassens Weiss

March 6, 2024, 8:16 am CST

Perkins Coie is closing its Shanghai workplace whereas emphasizing that it stays dedicated to its China apply and purchasers.

Perkins Coie nonetheless has a Beijing workplace that opened in 2002 and a China mental property company that opened in 2019, report Law360 and Legislation.com. Legislation.com additionally mentions a Taipei, Taiwan, workplace that Perkins Coie opened in 2011.

The Shanghai workplace shutdown impacts two attorneys and two patent consultants, the articles report. Three different Perkins Coie companions are linked to the Shanghai workplace, however they primarily work in the USA.

Perkins Coie is the fourth regulation agency to announce an workplace closure in China inside the final eight months, in response to Legislation.com. Different companies that not too long ago closed places of work in mainland China are Proskauer Rose, Akin Gump Strauss Hauer & Feld, and Latham & Watkins.

“The transfer comes amid a flurry of motion amongst BigLaw companies in China,” Law360 stories, “with nearly all of these companies closing places of work or conducting layoffs and a handful including new places of work because the nation faces an ongoing financial hunch and a downturn in mergers and acquisitions exercise.”

Linklaters laid off 30 attorneys in Beijing, Shanghai and Hong Kong in September. Kirkland & Ellis reportedly laid off 9 attorneys in those self same areas, in response to a report yesterday. Kirkland & Ellis refused to verify or deny the report in an announcement issued to Law360.

“Nonetheless, we might notice that our Asia capital markets staff, with eight companions and over 30 charge earners, continues to be one of many largest within the area,” the Kirkland & Ellis assertion mentioned.