In recent redundancy news within the legal profession, Clifford Chance, a prestigious multinational law firm, has applied layoffs to its Asia capital markets lawyers. The unfortunate layoffs came to light earlier in September, with observers within the sector watching these events unfold closely.
This decision by Clifford Chance aligns with similar actions from other law firms in the region. For instance, Linklaters also reported undertaking a ‘modest reduction’ in its Greater China head count around the same time. The economic difficulties brought about by the prolonged market downturn were cited as a key factor influencing these decisions.
The information surrounding the layoffs, including the number of personnel affected and the specific reasons behind Clifford Chance’s decision, remains incomplete due to the details being obscured behind a paywall.
For further details, it’s recommended to read the paywalled article from Law.com International Edition’s original coverage of the story.