Clifford Chance, the world’s largest law firm and one that in 2008 declared a record annual profit of US$1.8 billion, has announced a redundancy programme that could see up to 80 of its London-based associates out of a job. The cutback – nearly 8% of the firm’s London staff, currently estimated at 1,000 – was made in response to the testing financial conditions affecting the firm’s clients.
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