Clifford Chance changes partner termination policy for speedier exits
Clifford Chance has changed its partner termination policy to allow for the speedier exit of underperforming partners. The changes, which were approved by the partnership, allow management to shorten consultation periods and lengthen notice periods at its discretion. This means that some partners could be warned and given time to pick up their game before being asked to leave, while others could be terminated with three months' notice, followed by nine months' compensation.
The previous system gave underperforming partners a nine to 12-month improvement period. That system was criticised for keeping disenfranchised partners at the firm for too long.
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