Dechert has become the latest in a string of firms to announce cuts, laying off 72 administrative staff across its U.S. offices, or about 12.6 percent of its U.S. staff. A firm spokeswoman wouldn't say whether the cuts were economic or performance-based, only that they were made to "operate more efficiently and address the overcapacity we have." The firm recently announced that 15 support staff in its London office were subject to redundancy consultations, which generally means those positions will be cut.
Dechert Lays Off 72 Staff in U.S. Offices
The Legal Intelligencer
December 17, 2008