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….
Daniel de Juan, a sales engineer from Mitratech, summed up perfectly what LegalTech was like for me this year: “Being at LegalTech is almost like being at a casino, in the sense that you lose all track of time.”
Two years ago, I found the conference to be pretty intimidating, and that was when the conference was much smaller due to the weak economy. Last year, LegalTech New York was much bigger, and I found it slightly overwhelming. This year, due to some bad planning on my part, I came home from LegalTech utterly exhausted.
It seems I wasn’t the only one who felt this way. After a quick search on the Internet, I have seen only a few things written up about the conference, so I’m guessing many people went through the same experience. (For example, I spoke with members of The Posse List on the first night, and they told me that they were gearing up to do 36 interviews during the two and a half day conference — so it must have been a whirlwind for them as well.)
That said, here are some musings from my adventure last week….
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.