Clifford Chance asks associates to go on leave in Singapore
Clifford Chance has responded to a downturn in Singapore by asking a small number of capital markets associates to go on leave four around four months on a lower salary with benefits.
The firm is offering the package on a voluntary basis, and a small number of lawyers are expected to take up the offer and return at the start of the 2013, when the Asian capital markets environment is expected to return to higher levels.
Clifford Chance Asia-Pacific capital markets practice leader Crawford Brickley said in a statement: “Capital markets is an important part of our practice in south east Asia and India. However, in common with any business, we always keep our resourcing under review to ensure that our capability is in line with client needs. We remain very busy in other practice areas and do not expect any further changes.”
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