Clifford Chance LLP Takes Profits Hit As Pension Deficit Continues to Grow
The firm's LLP profits have contracted this year, against a backdrop of worldwide revenue growth.
January 02, 2020 at 04:46 AM
2 minute read
Clifford Chance LLP's operating profits fell 5% last year to £260 million, while its pensions deficit continued to grow.
The figures are contained with the firm's latest LLP accounts, posted on Companies House.
The firm continues to grapple with one of the highest pension deficits of any U.K. law firm, with its obligations rising £1 million this year to £284 million—an overall improvement, however, on its £341 million net obligation in 2017. The firm said in its account statement that it aims to "eliminate the scheme's deficit by May 31, 2026".
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Law Firms Mentioned
Trending Stories
- 1BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 2First Lawsuit Filed Alleging Contraceptive Depo-Provera Caused Brain Tumor
- 3The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 4The Growing Tension—And Opportunity—in Big Law Nonequity Tiers
- 5The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250