Magic circle firm Clifford Chance will report a 5% fall in revenue and profits ‘significantly down’ on last year’s £1.33bn, according to the firm’s global managing partner David Childs. He said the firm will cut around 15% of its equity partners at the end of its ongoing staff restructuring. Childs’ estimates on revenue and profits are the first to come from a magic circle firm this year. He was speaking at the Global Managing Partners Summit 2009 in London yesterday. read more

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Clifford Chance to cut equity partners

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