High Demand, Low Security: Legal Tech Consolidations Create Fluid Job Market
Executive Director John Tredennick was featured in a recent article on Law.com about the consolidating legal market and its effect on legal and technology professionals.
As reporter Victoria Hudgins noted:
It’s been a busy year for legal tech companies raising significant funding and acquiring competitors. But when companies merge, employees at all levels wait with bated breath for redundancy rounds that could cut their job.
“Everyone knows,” said John Tredennick, former CEO of e-discovery company Catalyst before it was acquired by OpenText in January. “You can’t go in and buy a company and expect employees will stay around. Your biggest worry is many of those employees are polishing up their résumés when the [merger] rumors hit.”
Whenever two companies combine, someone at the heart of this is thinking about how they can drive revenue with fewer people,” Tredennick noted.
“There is nothing dierent about legal technology than other technology except
many legal tech companies are running software that is 10 years in the past. Not all,
but many,” Tredennick said.
Tredennick advised what many legal recruiters echoed: “Develop your brand and skills. If you do that in most of these fields, if not all of them, you are going to have a lot of opportunity.”
You can read the article here.