American Lawyer Media (ALM)

HiResThe New York Legal Marketing Association hosted its annual General Counsel Forum last week, featuring three prominent GCs from major New York industries: Jason Greenblatt of The Trump Organization, Ed Holmes of AIG Investments, and Scott Univer of the accounting firm WeiserMazars. Aric Press, editor in chief of American Lawyer Media, served as moderator.

Obviously, the industries and firms of all three GC panelists were rocked by the “dark, demanding and sleep-disturbing downturn in recent years,” and this forum — titled “What Keeps You Up At Night?” — was meant to provide them a chance to share their experiences and concerns with the packed house at the NYSSA. The conversation was a lively and wide-ranging one, covering such topics as reputation management, legal risk across multiple jurisdictions, the increasingly complex regulatory environment, and, most of all, how frustrating it is to deal with clueless law firms (and what the firms might do to alleviate this). Here are some highlights:

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The Layoff Lady moves beyond Biglaw.

When times are tough for law firms, others suffer too. If a firm as prestigious and profitable as Weil Gotshal is conducting open and notorious layoffs, and rival firms are conducting stealth layoffs, rest assured that other creatures in the Biglaw ecosystem — technology vendors, legal recruiters, Mercedes dealers — are feeling pain.

Take media outlets that cover law firms. American Lawyer Media recently cut at least 35 positions from its editorial and production staffs, amounting to about 7 percent of headcount within those two groups. Kevin Michielsen, chief operating officer of ALM, said the layoffs resulted from the company’s shift to being a “digital-first” operation, not cost cutting. But considering that ALM labors under a nine-figure debt load, cost cutting might not be a bad idea.

But the Am Law layoffs pale in comparison to the cuts over at LexisNexis, at least in terms of raw numbers. The company didn’t provide numbers, but the estimates might surprise you….

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