The partners of this largest law firm are getting ready to face the 30 percent drop in profitability this financial year. And the member’s capital will see an increase of £127m by the end of 2008 to around £190m.
This has resulted in an 8 percent staff cut from its London office. These lay-offs are for only salaried lawyers, known as associates.
Meanwhile, Clifford Chance moved its M&A partner of New York, John Graham to its new Abu Dhabi’s office as a part of its plan to increase its corporate capabilities in Middle East region, especially Asia. And then it joined hands with top Indian firm AZB.