That’s not such good news for those associates and staffers
who’ve gotten their pink slips. The event does, however, serve as a reminder
that no matter what your rank in a law firm, you’ve simply got to do your due
diligence before accepting a position with one, even in those tumultuous (bleak!)
times. Wouldn’t you want to know that partners can’t be let go? That means that
when the firm needs to cut some big-time expenses, it’ll be looking elsewhere
(i.e., associate and staffing ranks) to do the trimming.
Of course, it’s unlikely that a firm will just whip out its
partnership agreement during an interview with a prospective paralegal. So do
some digging! Has the firm been involved in any lawsuits where firm financials
and its partnership agreement may have been disclosed? What’s the news coverage
been? When considering accepting a job offer, ask to speak to someone who holds
the same position you do at the firm. Talk to another associate, or to another
paralegal, or to a legal secretary and ask them some pertinent questions about
costs.
Even if a firm with weak financials is the only offer on
your plate, you can at least be prepared (always!) if you know its background.
A layoff should never come as a surprise. Have your resume ready at all times.
And if you’re looking for a new job right now, remember to do your background
research on prospective employers before saying yes to any offer.
—Lori Tripoli
