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Law Firms Freezing Salaries, Cutting Bonuses, Laying Off Staff; LawCrossing Braced to Support the Legal Job Market

published December 19, 2008

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Pasadena, CA — LawCrossing added over 11,000 new legal jobs to its site in the last week. In the leadership of CEO Harrison Barnes, LawCrossing staff has adopted drastic measures and high-quality research techniques to locate every possible legal job opening in this downturn.

''Our research has gone to the extent that not a single legal job opening gets missed out. LawCrossing is doing everything it can to help legal professionals find jobs this recession,'' says Harrison Barnes.


Only recently, AmLaw 100 firm Latham & Watkins announced that it will freeze its associate salaries. LawCrossing affiliate, BCG Attorney Search recruiter feels that holding salaries is a better alternative to laying off people. ''In 2007, when first-year salary jumped to $160,000, there was still a contingency of people saying this is just going to put more pressure on us and make firms lay us off quicker when the market turns around,'' says Dan Binstock, managing director of BCG Attorney Search's Washington, DC, office. He adds, ''A lot of associates are starting to accept that they're only as safe as the boat they're sailing on.''

''More law firms are expected to follow suit and freeze associate salaries to deal with the economic stress,'' says Harrison Barnes, founder of LawCrossing.

Another BigLaw firm Sullivan & Cromwell announced of slimmer year-end bonuses this year. London-based Allen & Overy, on the other hand, announced to cut its US bonuses to half of what it offered a year ago. In the latest string of firms to announce associate layoffs, Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, a Silicon Valley firm, laid off at least half of the newest class of associates, report Law.com.

''The current situation is analogous to the 2000 dot-com boom where thousands of corporate attorneys were laid off. Our company has dealt with such shaky economic phase before and has come out very strong. It has now adopted similar measures to support thousands of attorneys and legal staff,'' says Harrison Barnes.

LawCrossing, ranked 72nd in the Inc. list of 500 fastest growing companies, offers about 140,000 legal jobs for attorneys, paralegals, law students, and legal staff. The site also offers a seven-day free trial to its members.

Contact:
Mary Wilson, Editorial Coordinator
LawCrossing
626-243-1885
mary@employmentcrossing.com

About Harrison Barnes
Andrew Harrison Barnes, Esq., a JD from the University of Virginia Law School, is the CEO and founder of EmploymentScape (previously Juriscape), a research company dedicated to offering career services to a diverse range of professionals. Barnes began EmploymentScape operations by launching BCG Attorney Search in 2000, and continued introducing more career websites to support legal professionals. Barnes launched LawCrossing in July 2003, and the site soon became the world's most comprehensive legal job board.

About LawCrossing
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.

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