CC lays off 24 associates in New York

Clifford Chance (CC) has announced a new round of redundancies in its New York office, with 24 associates to be laid off from transactional practice groups.

The magic circle firm's New York base is also set to announce further redundancies for business support staff, while it has also deferred the start dates for its incoming class of graduates.

The 24 job cuts are spread across all practice groups except for litigation, from which CC laid off 20 associates last October. The firm said that the cuts have been made in response to "continuing sluggishness in the market".

A firm statement said: "Those colleagues affected by today's decision are held in high regard by the firm. These layoffs were not performance-driven. Those effected will receive severance packages and outplacement services."

CC is also set to complete a review of support staffing requirements which will see further business services personnel laid off in New York. As reported by Legal Week last week (19 March), the firm cut 35 jobs in business support at the end of last year following a staffing review prompted by the October cuts in the firm's litigation department.

Meanwhile, 50 first-year law school graduates who were due to start with CC in New York in October have had their start dates deferred until 2010. Of the 50, 20 will start in January and 30 in October. Each will be paid a stipend for deferral, with those starting in January 2010 paid a sum of $10,000 (£6,900).

For those having their start date deferred a full year, the stipend will be $40,000 (£27,700) if they choose to pursue their own interests, while those who choose to work pro bono or in public service will be paid $5,000 (£3,460) per month. In addition, the firm will pay for the graduates' Bar expenses.

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