On Friday we reported jobs would be going at Orricks Asian offices..
ALB has reported the same .. writing:
Citing economic pressures, US-based firm Orrick Herrington & Sutcliffe has cut approximately 10 staff in the firm’s Asian offices.
In a round of redundancies which affects its global offices, the firm has laid off 40 associates and counsel in its real estate, structured finance and corporate practices, including 35 staff members. According to reports, half of the number is from outside the US, and around a quarter of the redundancies will specifically affect the firm’s Asia practice.
The firm did not disclose which Asian offices were affected, but was said to have made the decision three weeks ago before notifying associates of the redundancies.
"Throughout 2008, we have done all we could to avoid today’s action: we have redeployed lawyers to different practices and we have cut expenses," the firm said in a statement. "Unfortunately, our staffing levels in the affected practices still remained too high, given the economic environment our clients and we face."
http://asia.legalbusinessonline.com/news/breaking-news/30843/details.aspx
