CC kicks off vote on partnership restructuring

Clifford Chance (CC) partners are voting this week on plans to reduce the size and shape of the partnership.

Voting started last week on proposals to change the firm's partnership deed as the firm prepares to remove a number of partners in response to the global economic crisis.

It is understood that voting is likely to close at the end of this week, with the firm requiring majority consent on changes that will speed up the process of removing partners from the firm.

It is believed the amendment will be temporary while CC undergoes its restructuring.

Should CC receive the majority vote required - believed to be two-thirds of the partnership - a number of salaried and equity partners are expected to leave the firm by the end of the calendar year.

CC announced its partnership cull in early February, with the review being led by the firm's 17-member management committee and the 13member partnership council. Senior partner Stuart Popham, managing partner David Childs and London managing partner Jeremy Sandelson are all involved.

Before announcing its partnership restructuring, CC had already announced a redundancy consultation affecting 70-80 London associates. Meanwhile, at the beginning of this month it announced a separate review of its business support function that is expected to result in 115 departures in London.

More news, deals and comment on Clifford Chance

Clifford Chance on the Legal Week Wiki