Clifford Chance (CC) has asked associates from its capital markets team in Singapore to take voluntary sabbaticals as the firm moves to cope with the dramatic slowdown in Asian securities work.
The magic circle law firm is understood to have met with staff this week to offer them a percentage of salary and benefits if they accept the offer of leave between now and early 2013. It is unknown how many staff will be affected by the cost-cutting measure, but sources close to the matter indicate that it will be less than 10.
