CC to cut Moscow headcount by 20%
Clifford Chance (CC) is targeting a 20% reduction in lawyer headcount in its Moscow office over the current financial year, with the firm's Middle East offices also set for a potential drop in numbers. In Moscow CC has made around six lawyers redundant through individual consultations, with the office also losing a further 24 lawyers through natural attrition over the same period, taking the total lawyer numbers down to around 150 in the office.The firm said the move was in response to declining demand for advice on foreign investment in Russia. A CC spokeswoman said: "The strategy is to reduce lawyer headcount in Moscow by 20% during the full financial year, then keep it under review. The strategy of the firm is to not have too many lawyers for current work levels, but also not too few for when the upturn comes."
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