Orrick Herrington & Sutcliffe has laid off about 6% of its global workforce and delayed its start date for incoming associates, the firm said on Tuesday.

The reduction in force impacts about 40 associates and 50 staff members across most practices, sectors and geographies. Given market activity, it has a greater impact on corporate transactional teams and significantly less of an impact on litigation, according to a person with knowledge of the matter.

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