(Photo by Kevin Frayer/Getty Images)
One by one, Biglaw firms are closing up shop in Asia, especially in the greater China region. Thus far, four firms — Latham, Perkins Coie, Proskauer, and Akin Gump — have shuttered their operations in China within the last year, and now a fifth firm is following suit, leaving just a single office standing.
As noted by Law.com International, the latest firm to do so is Orrick. The top Am Law firm closed its Taipei office and is in the process of winding down its Shanghai office. The firm offered the following statement:
“These moves reflect a rebalancing of our Asia Pacific platform, including the launch of our Singapore office in 2021, to align with client demand.”
The firm did not employ any lawyers on a full-time basis in Taipei, as the office served mostly as “a space to meet with clients based there.” Its Shanghai office, however, employs two partners and a small team (two associates and one staff member), and all of them will move to the firm’s Beijing office come July, when that location’s lease runs out. Eight others from the Shanghai office — an associate, a consultant, and six staff members — will receive “market severance.”
Best of luck to those who are being displaced or losing their jobs thanks to Orrick’s decision to close its Shanghai office.
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.
Orrick Shutters Pair of Offices in Attempt to ‘Rebalance’ Regional Platform [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 Twitter and Threads or connect with her on LinkedIn.
