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In one of the first clear signs that slumping credit markets are causing economic pain at law firms, Clifford Chance yesterday laid off several lawyers. John Christian, the partner in charge of the London-based firm's U.S. personnel committee, said the firm had made a difficult "business decision" to lay off the staffers in a practice group that worked exclusively for credit rating agency Standard & Poor's, reviewing documentation on mortgage-backed securities, the market for which has recently collapsed.
November 06, 2007 at 12:00 AM
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