Over the course of the past two months, we’ve been able to allow only one week to pass without the mention of a layoff or buyout of some sort, whether it be from a law firm or a law school.
These layoffs haven’t affected only handfuls of people — with about 20 people here, and more than 50 people there, hordes of law firm and law school personnel have been thrust into the unemployment line in recent weeks. Today, we’ve got word on yet another double-digit law firm layoff, this time coming amid the “surreptitious firing” of associates and the defection of several partners.
Which firm is the source of this unfortunate action?
This is as close to titillating as I’ll ever get in one of these columns: When a senior lawyer (or executive) leaves a company in December, what does that mean?
Basically, Ecclesiastes is all about changing jobs: ”To every thing there is a season.”
When a partner at a law firm moves laterally in January, that’s like leaves changing in autumn. The partner waited to receive his (or her) year-end bonus from firm A and, having pocketed the bonus, then moved on to firm B. That makes the lateral acquisition cheaper for the new firm.
The in-house world is a step slower: When an in-house lawyer (or executive) moves to a new company in March or April, that’s like snow falling in winter. The in-house person waited to receive his (or her) annual bonus in March (more or less) and, having pocketed the bonus, then moved on. That reduces the hiring cost for the new company.
But when an in-house lawyer (or executive) leaves a company in December, that’s a blizzard in May! The game is afoot! (Blogging is so good for me. I just learned that Shakespeare said that first, although I was thinking of Sherlock Holmes (who said it later) when I typed the phrase.) Quickly, Mr. Watson! What can we deduce from an out-of-season executive departure?
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.