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Clifford Chance (CC) is taking an axe to its entire Berlin office following a management review of profitability.
The move, which was announced to the partnership last night, leaves question marks over the destinations of Clifford Chance’s ten partners in the German capital.
CC’s Berlin office has been dominated by lower value real estate work, and is understood to have been at least 25 per cent less profitable than the other German offices.
A CC source said: “The real estate work in Berlin is not aligned with the rest of the real estate practice worldwide.”
The move forms part of CC’s increasingly tough line on profitability. In June this year it parted company with virtually all of its California practice after two years of disappointing results.
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