Saturday, October 26, 2013

LexisNexis announces another round of lay-offs

LexisNexis announced that it will eliminate 205 jobs, including those working for Martindale-Hubbell some of whom have been with the company for many years.  This is the second round of lay-offs since July when the company reduced its workforce by as many as 500.  Thomson-Reuters, which owns Westlaw, also announced a round of lay-offs in early October.  Law Technology News has the details of the Lexis job action: 

LexisNexis and Internet Brands Eliminate 205 Jobs

At 4:31 p.m. Thursday, Michael Walsh, CEO of LexisNexis Legal & Profession, advised colleagues that 205 jobs will be eliminated nationally for workers in the company's new joint venture with Internet Brands. The alliance brings together LN's Martindale-Hubbell unit, as well as its consumer site, "with Internet Brands’ online marketing services for lawyers through its Nolo legal division," he wrote in the email message. The joint venture was announced on August 30, The transition is expected to close Q4 2013.

"Going forward, these roles will be carried out by the El Segundo-based Internet Brands team in California," Walsh said in the email message. "Employees were notified earlier today. This has been a very tough day and we are providing our full support to these individuals as they seek new career opportunities. I would like to thank them for their service to the company — many of whom have been with the esteemed Martindale-Hubbell business for many years."
. . . .
Former LexisNexis executive Tim Corcoran wasn't surprised by the news. "When LexisNexis announced the joint venture with Internet Brands, it seemed reasonable to expect two businesses focused on providing legal services to the consumer community, and to the lawyers serving this community, to find overlaps in both opportunities and resources.

Continue reading here.

 Hat tip to Professor Eric Young.


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