Of course, things aren’t exactly great over at Troutman. The meetings did convey some “very important” information to associates and staff. A firm spokesperson gave Above the Law this report:
In response to the continuing economic downturn, Troutman Sanders LLP today announced it is offering a generous voluntary severance package to its staff employees. In addition, it announced it will be implementing in the near future an as yet undetermined number of involuntary layoffs of its staff and associates. Troutman Sanders believes these reductions, while difficult and unfortunate, will help insure that the law firm remains profitable and maintains the highest level of service to its clients.
We don’t have the information on what “generous” severance is being offered to employees who commit hara-kiri or how it is likely to compare with what people will get if they are “involuntarily” run through.
But one source expects all this to be sorted out in a couple of weeks.
Earlier: Mystery Meeting at Troutman Sanders