Clifford Chance's litigation practice group was once a rising player in the legal community, but is now fighting to keep a foothold. With a lack of work causing lower profits, the company made the decision to layoff associates and now partners are defecting. Their client base was once filled with appealing companies, such as Merrill Lynch.
According to TheLawyer.com, “with the latest partners leaving because of a dispute over their super-point status, the firm is clearly still plagued by the pay concerns that have dogged its US operation for years. With these issues finally bubbling to the surface, it looks like a strategic rethink could be on the cards for Clifford Chance.”
The U.S. litigation practice of Clifford Chance is practically coming undone after this series of layoffs and defections.
Former U.S. head John Carroll, and partners Warren Feldman and David Meister, who all left Clifford Chance's New York office, are said to be in discussions with Skadden, Arps, Slate, Meagher & Flom, according to TheLawyer.com. Skadden currently has 24 offices around the world and was named the best corporate law firm in America for the eighth consecutive year by Corporate Board Member magazine.
Neither Skadden or Clifford Chance have released statements yet.
