Clifford Chance to cut Wharf jobs

By Simon Hayes on January 9, 2009 11:28 AM |

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Canary Wharf law firm Clifford Chance has announced plans to shed up to 80 of its London staff.

The surprise announcement comes in response to the credit crunch with many of its high profile clients suffering in the economic downturn.

The Bank Street-based firm are one of the leading law companies in the world but even that has not made it immune from the economic situation as it launches a redundancy programme which could see up between 70 and 80 lawyers lose their jobs.

London regional managing partner Jeremy Sandelson said: "We have not taken this decision lightly.

"However, like any other business, we have to respond to prevailing market conditions. Our clients and their legal services needs have undergone significant change over the past year.

"We need to reflect that in the London office, and that includes ensuring that our level of staffing is appropriate for today's economic realities.

"By taking action now, we believe we will be well placed once conditions begin to improve."

The redundancy process begun yesterday.