Allen & Overy (A&O) is in redundancy consultations with up to 10 lawyers in its Hong Kong office, after seven of its partners there quit to join Latham & Watkins last year (The Lawyer, 20 October 2008).
A&O declined to confirm the number of jobs at risk.
In a statement the firm said: “Our business in Hong Kong is undergoing a restructuring in view of the departure of seven partners and exceptionally difficult market conditions.
“In any restructuring the interests of our people are paramount. We are still exploring a number of options with our people and due to this we are not able to comment further.”
The note assured staff it would be taking a long term view but added: “That said, we can never rule out the possibility of targeted redundancies if
there is a material and sustained downturn in our business or there are
exceptional business reasons in particular practice groups or geographies.”