The Occupy movement has reached the legal profession, with an unemployed law graduate launching a campaign to occupy the Inns of Court (London’s legal quarter).
“Through no fault of our own, a generation of [law school] graduates find ourselves with no jobs — or no jobs as lawyers anyway,” wrote the graduate under the alias “OccupyTheInns” on Legal Cheek, a blog I edit. “The lucky ones are paralegals. The unlucky ones work in bars (not the Bar)… It is for these reasons that I propose peaceful direct action. It is time to occupy the Inns of Court.”
Responses to the plan have mostly been negative, but the broad sentiment of discontent has struck a chord. Catrin Griffiths, editor of The Lawyer magazine, summed up the mood: “I don’t buy much of [OccupyTheInns'] argument, which smacks too much of entitlement, but it signifies something bigger, related to the growing crisis of a million young people unemployed in the U.K.”
However, even with our spiralling unemployment rates, and love of protesting, I’d be surprised if an occupation of legal London took off. While many U.K. law school graduates are jobless and indebted, most still have a decent shot of making it into the profession. As such, they have too much to lose by winding up the establishment.
Maybe OccupyTheInns should instead re-direct their energies to recruiting the potentially far more vulnerable, high-earning, senior lawyers who look set to lose their jobs over the next few months?
Over the summer, we wondered: what can law firms do to prepare for a possible double-dip recession?
One obvious answer: firms can “right-size” themselves, by making sure that they are as lean and as mean as they can be. And this seems to be what has been happening over the past few months.
We haven’t seen much in terms of lawyer layoffs lately, but staff layoffs are another story. In fact, on the staff side, we seem to be looking at a trend of firms reducing their permanent staff positions in favor of outsourcing.
According to the Department of Labor, 14 million people in our country are unemployed. And with a surplus of lawyers that reaches into the thousands in almost every state, unemployment is a serious problem for the legal profession.
Unfortunately, we all know that Biglaw firms — and surely other firms, as well — are avoiding these attorneys like the plague. We spoke about this industry-wide issue back in late 2009, noting that Biglaw firms weren’t exactly keen on hiring associates that had previously been laid off. In fact, one recruiter we spoke with told us that approximately 80 percent of employers specifically requested résumés from attorneys who are still employed.
Facing these seemingly insurmountable odds, what’s an unemployed attorney to do? As it turns out, President Obama wants to lend a hand, but only if he can get Congress to pass this jobs bill….
Yesterday the stock market experienced its biggest drop since 2008. In the wake of the Standard & Poor’s downgrade of U.S. debt on Friday night, the Dow Jones industrial average fell by 5.6 percent and the S&P 500 fell by 6.7 percent. Global markets suffered similarly.
The market decline on Monday was only the latest in a series of slides. As noted yesterday by the New York Times, “[t]he S.& P. 500 is now down 18 percent from its April 29 peak and is nearing official bear market territory, defined as a fall of 20 percent.”
(All in all, it’s pretty depressing stuff. As I tweeted yesterday, “@DavidLat isn’t looking at his #stockmarket holdings today; instead, he’s buying more #Powerball tickets – huge jackpot!”)
What’s frightening about the latest economic turmoil is that it comes on the heels of a brutal recession that the U.S. economy has not yet fully recovered from. In the wake of the aptly named Great Recession, unemployment still exceeds 9 percent, housing markets remain weak, and government policymakers have exhausted many of the tools at their disposal for attempting to revive the economy. Interest rates are basically as low as they can go at this point; fiscal stimulus is a political no-go. What is to be done?
The steep stock market declines raise a question: Are we entering another recession — i.e., the second dip of a double-dip recession? If so, what does that mean for law firms and lawyers? (We’ve already noted the implications for the IPO market — and the lawyers who work in it.)
Layoffs at law firms have slowed to a trickle (although we still hear the occasional rumor; email us with your tips). In the public sector, however, layoffs continue — and may even accelerate, as state governments and the federal government grapple with contentious budget issues.
Today brings word of major layoffs in Connecticut. In a just-issued report, Judge Barbara Quinn, Chief Court Administrator, laid out some serious cuts to positions in the judicial branch.
For those of you who have missed Deidre Dare, the expat lawyer who was terminated from the Moscow office of Allen & Overy after writing a smutty steamy online novel, give thanks. She’s baaaaaack.
Deidre “To Russia With Donkey and Dwarf Love” Dare is struggling with the cash flow these days. The Columbia Law grad’s London lawsuit against Magic Circle firm A&O for unfair termination in its Russia office was dismissed for lack of jurisdiction, so she filed a new complaint in New York. As you might expect from an amateur sex novelist, the complaint is rather juicy. Dare (a.k.a. Deidre Clark), who was a senior attorney in A&O’s London, Singapore and Moscow offices from 2007 to 2009, claims that she was terminated after giving into — and later spurning — her supervising partner’s sexual advances. (Excerpt: “[Tony] Humphrey made sexual advances on Clark, who was intoxicated at the time. This conduct included intimate sexual contact. Humphrey kept saying “I love sex.”)
Dare is upping the ante on the lawsuit. In London, she sued for £3.5m, but in her Big Apple lawsuit, she’s hoping to take a bigger bite out of A&O: namely, $35 million in punitive and compensatory damages.
“I think NY will take jurisdiction,” Dare, a member of the New York Bar, told us by email. “And thank god for that.”
In the meantime, Dare is working on another project that is, er, rather racy….
I feel like I’ve stepped into a time machine that has taken me all the way back to 2009.
According to an internal memo obtained by Above the Law, the international law firm of Hogan Lovells is offering a voluntary separation program to U.S. staff. The memo, posted in full below, talks about needing to bring the firm’s support staff into alignment with overall firm needs.
The program is voluntary, but as we learned during the height of the recession, “voluntary” programs don’t always stay optional….
I’m an in-house attorney at a large company. I used to be an associate at a big law firm, but was a stealth layoff victim and had little contact with the firm after that (and I’ll admit, I’m still somewhat bitter about the layoff). My current employer still works with my former firm sometimes, though the firm didn’t do anything to help me get my current position.
Recently, the firm realized that (1) I once worked there, and (2) I now work at a client. However, they failed to remember why or how I left, and thus have been contacting me as a firm “alumnus” to invite me to client and industry-type things, as well as firm events.
How should I respond to this attention, especially since I’m in a relatively small legal community, and my bosses do have some relationship with the firm?
People seem to have online amnesia these days. You can be sworn enemies with someone in real life, but somehow it’s perfectly natural to want to add them on Facebook. Just had a soul-crushing breakup with an asshat? Start monitoring your inbox for his LinkedIn request. It’s really unbelievable. Some people just don’t understand that grudges are for life, and they’re held offline and online…
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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 six years. You can reach them by email: firstname.lastname@example.org.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!