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Dechert Gives 13 Associates Layoff Notices
The slowing economy has hit home at Dechert, which has issued layoff notices to 13 associates in its finance and real estate practice, according to a source inside the firm. Shortly after the firm confirmed the planned layoffs, the source said the firm chairman issued a statement that Dechert would offer the 13 associates positions in other practice groups. The news comes amid a record financial year for the firm, with $836 million in gross revenue and more than $2.3 million in profits per equity partner.