Many law firms could not hold its ground in the face of increasing competition
Pasadena, CA (PRWEB) December 31, 2008
LawCrossing, the world's leading legal job board, expressed deep concern over the loss of jobs throughout the year and announced a renewed drive to post more and more legal jobs in its database in the new year.
"These are hard times for legal professionals; the competition is cut-throat for the positions that are active," says A. Harrison Barnes, Esq., the founder and CEO of LawCrossing. "The legal job market is deeply affected by the recession, and law firms are finding it hard to keep their footing in the shaky economy."
Dozens of law firms have cut lawyers and staff in the past year, mainly in structured finance and real estate, while four large law firms were closed down. It is interesting to note that as recently as 2004, Heller Ehrman, the 118-year old firm, was ranked second on The American Lawyer magazine's "A-list," which ranks law firms on the basis of profitability, pro bono representation, associate satisfaction, and diversity ratings. The San Francisco-based law firm, which withstood both the 1906 earthquake and the Great Depression, could not endure the pressures of the present crumbling economy and was shut down.
Thacher Proffitt, a 160-year old firm, also announced that it will close down operations next year after its planning committee failed to reach a merger agreement with an unidentified firm, and the subprime crisis slashed demand for its structured-finance practice. New York-based Dreier also filed for bankruptcy protection after its founder was jailed and accused of cheating hedge funds out of more than $100 million. Thelen, a San Francisco firm, like Thacher, focused on structured finance, also got shut down earlier this year.
"Many law firms could not hold its ground in the face of increasing competition," says Barnes. "This might happen to any law firm today, irrespective of its position in the industry. Now, the real problem is that many legal professionals find it hard to search for active legal jobs. What is important, according to my experience as an attorney, is that one should look for jobs in the right places."
LawCrossing scours legal job openings from virtually every law firm, government agency, employer career webpage, and legal job board in America. It is a pioneer in introducing new search features for finding legal jobs, and is the largest legal job board in the world. The site provides resources for law students, attorneys, and legal staff alike with active jobs totaling 140,000-plus legal jobs. LawCrossing constantly tracks the hiring needs of over 250,000 employers every day. It also reviews more than 10,000 websites per day in search of new legal job openings.
Barnes adds, "LawCrossing seeks to add every job opening possible from literally every source of jobs. We want to find them all."
For more details, log on to http://www.lawcrossing.com.
LawCrossing is an affiliate of EmploymentCrossing, a powerful and comprehensive organization dedicated to helping professionals find jobs that will enhance their careers. LawCrossing consolidates every legal job opening it can find in one convenient location. LawCrossing was ranked 72nd on the 2007 Inc. 500 list of the fastest growing companies in the US. The website also offers a seven-day free trial to new members.