Cadwalader, Wickersham & Taft is set to make nine layoffs in the
The firm has also seen the departure of the chair of its insurance and reinsurance department, Clifford Schoenberg, who has left to join Mayer Brown.
Schoenberg's move follows the defection earlier this month of the co-chair of the firm's financial restructuring group, Bruce Zirinsky, along with restructuring litigation partner John Bae -- who both quit for Greenberg Traurig -- and the walkout of a seven-partner team from the firm's London office last week.
The firm declined to comment on the new cuts, but said in a statement: "Cadwalader confirms limited terminations of a few associates in the
The firm recently confirmed a 30 percent drop in partner profits for 2008, although some partners could see earnings fall by as much as 40 percent due to the equity points system used by the firm.
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