A US-headquartered firm which reported partner profits of $1.5m but continued to claim money under the government’s job retention scheme has said it no longer has any staff on furlough.

Reed Smith claimed between £50,000 and £125,000 from December 2020 to April 2021, according to government data. As of last week, the firm still had six employees from its facilities team on furlough, working alternate weeks as two separate teams of three. However, as the Gazette went to press the practice said it is no longer claiming government support.

In February, Reed Smith announced that global revenue had risen to over $1.3bn, while profit per equity partner rose by 16% from $1.3m to $1.5m.

According to government furlough data, 31% of businesses engaged in legal activities made use of the furlough scheme in May 2021, with 12,800 employees on furlough. Some £11m was claimed in total in May and several major law firms were still receiving government support in April 2021.

A number of City firms have repaid the money in full. These include Freeths, Osborne Clarke, Eversheds Sutherland, DAC Beachcroft, Herbert Smith Freehills, Norton Rose Fulbright and Pinsent Masons.