Clifford Chance to cap payouts to ex-partners

Griffiths, Catrin
March 2005
Lawyer;3/14/2005, Vol. 19 Issue 10, p1
Trade Publication
This article reports that Clifford Chance LLP is considering cutting annuities for former partners in an attempt to save a further l2m pounds as part of its cost-cutting program. Chief operating officer David Childs started the annuities debate at the partnership retreat in Paris from March 3-6. Currently, retiring partners are entitled to 20-35 points for five years, depending on retirement age and length of service. Clifford Chance is one of the few firms that still bestows annuities on former partners.


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