Thirteen capital markets and finance associates in London facing redundancy. The action is reportedly based on low attrition – which means they’re either replacing lower-performing junior and midlevel associates with untested fresh meat, or pandering to their relationships with the law schools by keeping up new hiring.
The firm has now laid off a reported total of 457 people. 201 lawyers and 256 staff. That extends its lead over #4 DLA Piper (440) in the law firms’ overall layoff rankings.
Just four more lawyers and Clifford Chance could overtake Allen & Overy for #2 on the ranking of firms that have laid off the most attorneys. CC needs 23 more to catch #1, White & Case.
No effect on the rankings for staff layoffs, where Clifford Chance is #10, just two people behind Baker & McKenzie.
This is the firm’s 14th reported round (go to the Layoff Tracker and filter by the firm’s name for the full list). That’s #1 by a long shot. DLA Piper has had ten reported rounds of layoffs for second place.