Mystery Meeting at Troutman Sanders
Yes, 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
(72) Comments
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FIRSTTTY
Colonel Sanders is a chickenman no?
Kenny Powers is BACK! Screw you Elie you fat piece of shit.
Maybe it isn't what you are thinking? Maybe it is a merger or a take over?
TTTrouTTTman?
And they would only have the staff in for that kind of meeting #4?
4, and attorneys never get laid off when there is a merger or take over....
Why does this post come out before the meeting? 1 hour of mystery and intrigue for those of us not at TS? 1 hour of fearful anticipation for staff at TS?
Next time, just wait until after the meeting. If there's news, report it. If there isn't, no reason to create a buzz about a non-story.
WORST BLOG EVER
completely agree with 8. this isn't news until there's news.
All they are going to say at the meeting is
Give me back that fillet-o-fish!
Give me that fish...
Give me back that fillet-o-fish!
Give me that fish...
I've heard from friends at TS that stealth layoffs have substantially reduced headcount in NY. Maybe stealth isn't enough.
On the other hand, usually when layoffs are the same day as the firm-wide meeting, we'd hear rumors of layoffs going on already.
"Troutman Sanders has pushed back their start date for summers to Jan. 4th 2010". Looks more like a winter associate program to me. Must be a solid source you got this info from.
"Why does this post come out before the meeting? "
Because that helps inflame unsubstantiated fear mongering and paranoia. Isn't that what this blog is all about?
Why so serious? I'm sure they are having a meeting to just compare everyone's NCAA bracket. Why do you always assume layoffs, Elie?
OH MY OH MY I WONDER WHAT THEY'LL TALK ABOUT?!
HMMMM?
OH MY OH MY I WONDER WHAT THEY'LL TALK ABOUT?!
HMMMM?
TS = better than A&B
elie, you pos. stil blocked and still posting on this blog, asswipe. my ip address changes every couple of minutes, so i can still say shit without having to worry about your lazy ass blocking me. know what that means? that means you have to get off your lazy ass and start moderating again, you f-ing waste of space.
Troutman Sniffers
elie,
this is 19. sorry about the comments, just mad at why you blocked me of all people. i dont cuss anymore than anyone else, dont flame, dont make up shit.
oh well. for anyone else, hope you are using an IP blocking software. you never know. just ask the dude from cisco.
4=dumbass. You realize Troutman just closed a merger with Ross, Dixon & Bell, right?
quinn,
not only does quinn remain, so do i after getting blocked by that waste of space elie.
don't flame? what does that mean?
24- that means make up shit about one firm in particular. for example, i would say, "heading into the meeting, rumors are that 30-40 staff are going to be let go" is a mild flame. if i were to say, "going into the meeting, rumors are that three of the top partners got arrested last night for embezzlement of $400 million dollars", that would be a bigger flame.
we all do it.
All they are going to say at the meeting is
Give me back that fillet-o-fish!
Give me that fish...
Give me back that fillet-o-fish!
Give me that fish...
11 - hahaha... I heard they were going to play musical chairs until 25 people had no chair. Then the 25 would be given a pink slip.
24 = flame
Hey Bob,
thanks for the info - "very important matter" tells us a lot, you ass hat!
21 - he blocked my shtick too, don't feel bad.
What was your shtick?
19/21 -
Meds. Look into them.
19 - you are like an annoying little kid. let's hope elie finds some advanced blocking software
Flame = what happened to this Cardozo chick's ass after I tapped it at a moot court competition.
18 - really? I mean, really? Come on - accept your place, you'll sleep better.
see that you dont, dick.
oh, now its bitch, sucker.
see, that was my shtick. annoying, but so is elie..
24 - http://lmgtfy.com/?q=internet+flame
33- suck it.
Gentlemen at the legal preparatory academy with which I was once affiliated had younger siblings, of that age when they were first afflicted with puberty, and of the various consequences of the hormones affiliated with the onset of that condition. The aforementioned siblings were considered a nuisance, because they engaged in chicanery similar to that of posts #19, #21, and #34, at least as those unworthy publications were ennumerated as of the time of this posting.
The siblings of these gentlemen were considered to be nuisances, and were accordingly administered routine courses of "wedgies" prior to being stuffed into their middle school lockers. These actions, while not considered to be worthy of particular note, were noted with amusement by the assembled onlookers and bystanders.
TTTrouTTTman proposed merger with WalMart.
I think #41 was done in the ass by a Cardozo chick wearing a moot court strap on.
uh-oh . . .
Have Troutman associates been busy -- able to meet their hours? I haven't heard much about this firm lately.
i Have heard they offered voluntary severance packages, and if they do not get the response they like they will "restructure" within 2 weeks. The 3:00 meeting is to determine which employees are expendable.
41 - must be a laid off attorney trying to stay sharp on how to confuse the living shit out of readers by turning simple things into dense confusing crap.
47 - new here?
48,
This is my second time.
47
"But that doesn't mean we can't still hold out hope that one of these meetings will end up being completely benign."
OMG you are so full of shit. You guys are the biggest fear-mongering layoff vultures EVER. This post sucks and so do you.
47: Legal Fraternity Lothario, his own self, is, in fact, not a laid off attorney, but continues to be involved a business relationship with a limited liability partnership, the legal purpose of which is to engage in the practice of law. He prefers to refer to his own self as a "practioner of the obfuscatory arts."
No, but first time experiencing Legal Fraternity Lothario... now I get it.
Real 47
I smell RoTTTen fish
48, no but I fail to understand even the simplest of humor
The Really Real 47
So, what's the latest news?
26:
What if it were YOU with your back to the wall?
If it were YOU in that meeting, you wouldn't be laughing at all!
Staff were informed that there will be layoffs soon. Staff members are freaking out.
Wow... just when we thought bloodbath Friday wasn't going to repeat... 50 layoffs of associates, 75 staff.
Which offices & practice areas?
The Management Committee has something else up its sleeves for later this afternoon.
56,
If your back's to the wall, put your sword in your hand, remember the words of your teacher, your master:
"Evil moves fast,
but good moves faster
than LIGHT shining for your illumination -
good versus evil equals confrontation"
So when it gets dark, don't give in and go sour -
try to rely on your Turtle Power.
Is the merger with Baker & McKenzie going to affect the planned closing of Baker's offices?
Can anyone confirm or deny 58? Numbers seem a little too round.
Seriously GP, please announce something so I can enjoy my weekend. CW, MK, RP... if you are reading this blog, please tell us. We know a delay is inevitable.
Agree with 64. Firms need to know that not announcing something is killing us. We all know that a delay is inevitable, so just fucking announce something already!
From the non-update, it looks like Elie's tipsters were the ones who got cut. Shocker. Go back to work.
I just spoke to a friend of mine at Troutman:
55 staff
33 attorneys
3 months severance
first years pushed to Jan '10
I am at Troutman and have no idea where those numbers are coming from. All they said was that associate layoffs would be coming next week - they did not give a number. Same thing for staff.
the axe has fallen many times on associate necks. 15ish associates (so far) chopped in ATL; 25% associates down in NYC office, DC associates get culled tomorrow, and then return finale to prune ATL's real estate group (and any leftovers) at week's end. insiders say no chopping on Ross/Dixon associates (this year).
3 months severence? ha!
most stand to only get weeks.
3 months severence? ha!
most stand to only get weeks.
3 months severence? ha!
most stand to only get weeks.