Firm laying off - only been here a year - what do I do? Forum

[Anonymous User]

I work at a large firm that is hitting hard times. The layoffs have been steady and I have only been here 1 year. My billable work is dwindling and the anxiety has increased substantially. I have been doing transactional work which has been interesting this far. What do I do with this shitty situation? Hold tight? Start applying? If so, what kind of firms do I target?

- wrote from my iPhone, hence the straight to the point demeanor of the post. Will provide more details of relevant/asked.

[nsideirish]

Out the firm?

[Anonymous User]

Will not out the firm.

[smaug]

OK on this one I'm actually on team #outthefirm

[Traynor Brah]

well we're in the midst of recruiting season so if you were ever going to help (otherwise helpless) students, many of whom have crushing debt, from picking a big firm that is steadily laying off associates without it hitting the press, now would be a good time. But good luck.

[Hutz_and_Goodman]

I understand not outing the firm, but can you confirm that first two letters are "K" and "L"?

[Manteca]

I understand not outing the firm, but can you confirm that first two letters are "K" and "L"?

Was thinking the exact same thing.

[Johann]

Update your resume with experience you've gained and start sending out to lateral firms. Honestly though, they are gonna clear the more expensive people at the top that are known non partner commodities before the cheaper relatively unknown commodities

[Anonymous User]

#pleaseoutthefirm

[5ky]

Outing the OP's firm only hurts him/her. This isn't like a no offer, they have to look out for their own continued employment.

[whats an updog]

well we're in the midst of recruiting season so if you were ever going to help (otherwise helpless) students, many of whom have crushing debt, from picking a big firm that is steadily laying off associates without it hitting the press, now would be a good time. But good luck.

this

[rpupkin]

#pleaseoutthefirm

Stop it. If the firm is laying off associates right now, then it's not going to go on a sa-hiring rampage.

You should be concerned about the firms that think they're healthy right now (and which are therefore hiring a huge summer class) but which are going to encounter difficulty over the next 1-2 years. But it's really hard to predict that kind of thing. So everyone should just chill out and stop harassing the OP.

[84651846190]

The transactional market seems to be doing well lately, so hopefully you can move somewhere else pretty easily. If I were you, I would try to rack up as much and as many kinds of experience as possible as soon as possible so that you can (honestly) put a whole bunch of stuff on your resume that will make you an attractive lateral candidate.

[Anonymous User]

To the law student commenting on outing the firm - You all are going to learn quick how fast things can change. I'll go ahead and say the old anecdote, the legal market is a far cry from what it once was.

My firm was healthy a year ago, now, it's a shitshow. I am hoping to get some advice on how to keep my career afloat with only 1 year of experience under my belt.

[RedGiant]

Hi,

I'm a 3L, but I was a transactional paralegal for a lot of years (including the downturn, including at Latham). The biggest thing you can do right now is to apply fast and apply broadly. Headhunters likely already know about the layoffs, but the general public (other firms, in-house hiring) does not. Even if you did ABSOLUTELY NOTHING wrong, you want to avoid getting "layoff taint" which is the view, from outsiders, that you were laid off because you were less good than your peers (even though, again, this could be group or practice-specific and have NOTHING to do with you). I would network like hell with classmates--their firms might need lateral. Then also hit up alumni. Talk to your school's CDO--they should still help you. And frankly, if things are really bad, talk with a partner and ask if moving in-house might be a good strategy. I know from experience that partners will try to squeeze every last drop of goodness out of associates they are going to lay off shortly, so DO NOT TRUST THE PARTNERS to help with client placements or to tell you the truth. Latham promised no layoffs until they laid off nearly all of their NY first years and many other first years around the firm. But if there's a partner you trust, broach the subject first.

Please also know, and I mean this genuinely, that many, many of the first year associates I knew that got laid off landed on their feet. They did contract work, doc review, lateraled, went in-house, opened their own firms until they went back to biglaw--if you want to be a lawyer badly enough, you can get through this. But definitely do not be afraid to lay your genuine interest (read: NOT desperation) on the table, when you network.

Finally, please don't let this fuck with your self-esteem. This might suck, and you will get through it, but know that you are smart and capable and will land somewhere. DO NOT WAIT to be the last one out the door. Be proactive and get the hell out of dodge. Go ANYWHERE you can right now. Doesn't matter if it's not the right fit. It's way better to be employed than to have been laid off. You can lateral again back to somewhere better. Just get out before the major exodus.

GOOD LUCK!

[MidW13]

Hi,

I'm a 3L, but I was a transactional paralegal for a lot of years (including the downturn, including at Latham). The biggest thing you can do right now is to apply fast and apply broadly. Headhunters likely already know about the layoffs, but the general public (other firms, in-house hiring) does not. Even if you did ABSOLUTELY NOTHING wrong, you want to avoid getting "layoff taint" which is the view, from outsiders, that you were laid off because you were less good than your peers (even though, again, this could be group or practice-specific and have NOTHING to do with you). I would network like hell with classmates--their firms might need lateral. Then also hit up alumni. Talk to your school's CDO--they should still help you. And frankly, if things are really bad, talk with a partner and ask if moving in-house might be a good strategy. I know from experience that partners will try to squeeze every last drop of goodness out of associates they are going to lay off shortly, so DO NOT TRUST THE PARTNERS to help with client placements or to tell you the truth. Latham promised no layoffs until they laid off nearly all of their NY first years and many other first years around the firm. But if there's a partner you trust, broach the subject first.

Please also know, and I mean this genuinely, that many, many of the first year associates I knew that got laid off landed on their feet. They did contract work, doc review, lateraled, went in-house, opened their own firms until they went back to biglaw--if you want to be a lawyer badly enough, you can get through this. But definitely do not be afraid to lay your genuine interest (read: NOT desperation) on the table, when you network.

Finally, please don't let this fuck with your self-esteem. This might suck, and you will get through it, but know that you are smart and capable and will land somewhere. DO NOT WAIT to be the last one out the door. Be proactive and get the hell out of dodge. Go ANYWHERE you can right now. Doesn't matter if it's not the right fit. It's way better to be employed than to have been laid off. You can lateral again back to somewhere better. Just get out before the major exodus.

GOOD LUCK!

Awesome response. Thank you for taking the time to write out a well thought out response.

[westphillybandr]

#pleaseoutthefirm

Stop it. If the firm is laying off associates right now, then it's not going to go on a sa-hiring rampage.

You should be concerned about the firms that think they're healthy right now (and which are therefore hiring a huge summer class) but which are going to encounter difficulty over the next 1-2 years. But it's really hard to predict that kind of thing. So everyone should just chill out and stop harassing the OP.

lol

[dixiecupdrinking]

Hi,

I'm a 3L, but I was a transactional paralegal for a lot of years (including the downturn, including at Latham). The biggest thing you can do right now is to apply fast and apply broadly. Headhunters likely already know about the layoffs, but the general public (other firms, in-house hiring) does not. Even if you did ABSOLUTELY NOTHING wrong, you want to avoid getting "layoff taint" which is the view, from outsiders, that you were laid off because you were less good than your peers (even though, again, this could be group or practice-specific and have NOTHING to do with you). I would network like hell with classmates--their firms might need lateral. Then also hit up alumni. Talk to your school's CDO--they should still help you. And frankly, if things are really bad, talk with a partner and ask if moving in-house might be a good strategy. I know from experience that partners will try to squeeze every last drop of goodness out of associates they are going to lay off shortly, so DO NOT TRUST THE PARTNERS to help with client placements or to tell you the truth. Latham promised no layoffs until they laid off nearly all of their NY first years and many other first years around the firm. But if there's a partner you trust, broach the subject first.

Please also know, and I mean this genuinely, that many, many of the first year associates I knew that got laid off landed on their feet. They did contract work, doc review, lateraled, went in-house, opened their own firms until they went back to biglaw--if you want to be a lawyer badly enough, you can get through this. But definitely do not be afraid to lay your genuine interest (read: NOT desperation) on the table, when you network.

Finally, please don't let this fuck with your self-esteem. This might suck, and you will get through it, but know that you are smart and capable and will land somewhere. DO NOT WAIT to be the last one out the door. Be proactive and get the hell out of dodge. Go ANYWHERE you can right now. Doesn't matter if it's not the right fit. It's way better to be employed than to have been laid off. You can lateral again back to somewhere better. Just get out before the major exodus.

GOOD LUCK!

great advice

[Anonymous User]

If it's KL gates, get out fast. That place has been merging/buying up other firms/opening offices everywhere. I summered there and bailed because I thought their aggressive expansion strategy was bound to hit a wall.

Regardless of which firm it is, talking to a recruiter and lining up interviews is your best bet. The problem is, if you are at a firm like KL Gates or similar, you probably didn't have the best credentials (grades/school) to begin with so it might be tough. Most employers are going to rely heavily on your grades/school since you're so early in your career. If you have good creds and are at firm that is well-respected, you might have an easier time. Either way, take stock of where you are in your career and what credentials got you there. In other words, leaving might involve moving "down" a notch or few so you may not want to hold out for something similar or better. Also, be open to starting again as a first year, the salary difference isnt all that much and firms might be more willing to add you.

Networking isn't a bad idea, but most of your classmates are going to be just as in the dark about their firm's hiring needs as you are about yours so maybe focus on people a few years above you that went to your school. You might be too junior to move in house, and those opportunities are more difficult to find, especially if you're at firm that services more mid-market clients. You don't want to contact clients you've worked for and that get back to the firm giving them and excuse to get rid of you. Also, although, yes it is bad to get laid off, it is also is suspicious that you're trying to move as a first year. Not fatal, but it puts you in a less great position than someone trying to move as fourth year and raises questions. If people think the firm is fine but see that you're looking to leave without having any real experience, they might ask what is wrong with you that you couldn't hack it.

The good news is, other firms are hiring and you aren't billing that much so you have plenty of time. Get your resume together and out to recruiters; what have you done there that will make you stand out, did you have a great idea that made its way into a deal? did you take on significant drafting or other responsibilities above and beyond what a first year would be expected to do? If so, find a way to put things like that in your resume or at least communicate that to a recruiter so they can more easily "sell" you to potential firms. Get writing samples together; pick two or three that show a range of work (spreadsheets, memo, sections of agreements you have drafted). Anonymize them and have them ready to go. Call career services and network, but career services may not be all that helpful and networking takes time and can be tricky. CS might though have some inside information on a firm or two that is looking to add to a particular class (maybe even the current crop that is starting next month- see above re starting again as a first year). Consider moving to a different city if possible- provides a better story than "i want to move because I do" (it's tricky to say in interviews, that you are worried about firm stability.

I would be hesitant to talk to any partners about potential move. Partners have a vested interest in keeping you working and in the dark. If there is a huge problem, they are not going to tell you before the firm announces an issue (which is likely to be never).

[Anonymous User]

Any info about which city/market your firm is in? Are we talking trying to flee within NYC or a secondary?

[Anonymous User]

Bump

[Anonymous User]

Not sure what else there is. There isn't going to be some magic bullet. Resume, writing samples, develop a good story about why you want to move, network and talk to career services.