denotes premium content | May 21 2008 
News
posted 31 Mar 2008
Dechert offers 13 practice transfer
INTERNATIONAL LAW firm Dechert LLP has told 13 associates in its US finance and real estate (FRE) group there is insufficient work for them in the current economic climate.
However, the associates in question have been told they could transfer to other groups at the firm.
In a statement issued by firm chairman Barton J. Winokur, the effect of the recent shift in market conditions on clients’ demands was mentioned as a key factor behind the move.
“We currently do not have sufficient work for all the associates in FRE,” said Winokur. “As a consequence we have told 13 associates that we see no demand for them in the group in the foreseeable future.”
“However, due to increased and substantial demand in other practice areas, we will be offering those
lawyers the opportunity to work in those other groups.”
The move, which will affect just under ten per cent of the 167-lawyer FRE team, follows redeundacies at a number of firms, including Clifford Chance and Cadwalder Wickersham & Taft.
