Deferral Stipend, Layoffs, Staff Layoffs, Start Dates

Mystery Meeting at Troutman Sanders

Troutman Sanders logo.jpgYes, we live in a world where any firm wide meeting has to be greeted with a sense of “oh, crap.” But that doesn’t mean we can’t still hold out hope that one of these meetings will end up being completely benign.

We just received word that Troutman Sanders has scheduled an all staff meeting for 2:00 p.m. EDT today. Conference rooms have been booked at all of the firm’s offices. The purpose of the meeting was announced via firm-wide email:

Bob Webb is holding a meeting today for all of the US Firm’s staff employees to discuss a very important matter. Your attendance at this meeting is requested and we appreciate if you would adjust your schedules in order to attend. Thank you.

We collect some of our other Troutman tips, and an update about an all associates meeting, after the jump.

Earlier this week, we started hearing about impending layoffs coming to Troutman. One tipster reported:

[E]ven though managing partner stated that there will be no economic layoffs, there are rumors of a 6-8% staff and 6-7% attorney layoffs happening before end of month.

But when we followed up with the firm earlier this week, a firm spokesperson assured us that no layoffs would be taking place at Troutman this week.

Even though many associates have heard that today is “D-Day” at the firm, between Troutman’s denials and the fact that the meeting doesn’t include attorneys, it’s likely that associates at the firm are safe.

We also understand that Troutman has already pushed back start dates for incoming first years. A tipster reports:

Troutman Sanders has pushed back their start date for summers to Jan. 4th 2010. The delayed start date seems reasonable, however, they are not offering any kind of extra stipend or loan – only their original 5000 dollar no-interest loan (or advance).

Hopefully those cost savings will allow the firm to avoid attorney layoffs.

Update (2:25): Uh Oh. We just received word that the staff meeting is at two, but the associates’ meeting is at three. Here’s the email that the associates received:

I would like to meet with all of you today at 3:00 p.m. EST on some very important issues. Locations for the meeting are set forth below. I hope that you will make every effort to attend. Thanks.

Bob Webb

A firm spokesperson promised us a statement if there is any news coming out of the meeting. We’ll be sure to post it if something happens at Troutman today.

Update (5:04): Details about what happened at Troutman here.

Earlier: Prior ATL coverage of staff layoffs

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