A leading US firm with a significant London presence is preparing to shed around 10% of its global workforce. K&L Gates, which is headquartered in Pennsylvania, revealed today it was the latest firm to respond to market trends by cutting staff.

In a statement, global managing partner Stacy Ackermann said: ‘Following a comprehensive, multi-month review of our structure to better align with how our business operates today and support future growth, we made the decision to reduce our allied professional workforce.

‘This action is being taken to streamline our support structure, ensuring that we are attuned to immediate client needs and well positioned to anticipate and meet future demand. We are committed to supporting our people throughout this transition, including through separation benefits and outplacement support for impacted colleagues. Our focus remains on serving our clients with the excellence, responsiveness, and expertise they have come to expect from our firm.’

K&L Gates ranks in the top 50 US firms with more than 20 offices in the US and a similar number across Europe, Asia and Australia.

Accounts for the K&L Gates UK LLP, for the year to 31 December 2024, show that turnover increased by 5.6% to £60.1m and operating profit was up by 5% to £17.8m. Net assets fell during the year and total members’ remuneration from the UK profits of the LLP was virtually unchanged at £8.8m. The number of members increased from 54 to 56, with overall staff numbers up from 177 to 182.

It has been reported in the past year that cuts have been proposed or carried out at Clifford Chance, A&O Shearman and Freshfields, although numbers have been relatively small in relation to overall headcounts and more likely to affect back-office than lawyer roles.