In a significant development within the legal sector, U.S. law firm Orrick, Herrington & Sutcliffe announced plans to consolidate its Chinese operations by closing its Shanghai office and focusing on Beijing. This decision, part of a broader strategy to 'rebalance' its regional platform, will see the firm's Shanghai office lease expire in July, leading to the dismissal of eight employees who will be offered severance packages. Additionally, the firm's decision to shutter its Taipei office was mentioned as part of this strategic realignment. This move by Orrick is reflective of a larger trend among international law firms reducing their presence in China. Meanwhile, U.S. law firm leasing activity has seen a significant uptick in 2023, with eight of the ten largest leases being signed in New York City, according to a CushWake report.
Orrick will consolidate its Chinese operations in Beijing after the lease on its Shanghai office expires in July. Orrick's office closure will result in eight Shanghai employees being let go and offered severance, a firm spokesperson confirmed https://t.co/YQ7BCLG3DD https://t.co/5RjXuDwppU
The list of large, international law firms downsizing in China continues to grow, with an Orrick Herrington & Sutcliffe LLP spokesperson revealing Friday that the firm plans to close its office in Shanghai. https://t.co/pSFdJSJ1r8
US law firm Orrick, Herrington & Sutcliffe said it will consolidate its Chinese operations in Beijing after the lease on its Shanghai office expires in July https://t.co/YQ7BCLFvO5 @DaveThomas5150 https://t.co/tNMOa1f3xT
Orrick Shutters Pair of Offices in Attempt to 'Rebalance' Regional Platform https://t.co/gOlU1YG2IU
A Double Blow, Orrick Shutters Taipei and Shanghai Offices in Attempt to 'Rebalance' Regional Platform https://t.co/I2QS3eMRUJ
U.S. law firm leasing activity soared in 2023 + 8 of 10 largest leases were in NYC, @CushWake report finds https://t.co/1DtcuYSWP5 @AmericanLawyer @lawdotcom