I see Clifford Chance more in News these days. This is the largest law firm in the world with big number of lawyers as well as big revenues. I thought Clifford was rather a quite company which doesn’t like to publicize itself much. But as the environment has grown gloomy with economy downturn, it is gaining more popularity, to sustain the recession. Let’s have a glance at why and how Clifford Chance is making news.
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.