In a move to copy their across-the-pond counterparts, London-based Clifford Chance
Other US firms that have cut their bonuses this year were have included: Cravath Swaine & Moore (who set the precedent with its cuts last month); Simpson Thacher & Bartlett;Dewey & LeBoeuf; and Cleary Gottlieb Steen & Hamilton.
The firm’s been going through some rough times lately. Two huge partner defections last week (three partners moving to Skadden Arps Slate Meacher & Flom and one defecting to Morgan Lewis & Bockius) and the layoffs of 20 US employees in October have made the life at Clifford Chance all the more difficult. No word yet on whether bonuses for employees in Clifford Chance’s non-US offices.