Troutman Sanders said Friday that the firm will lay off associates and offer staff a voluntary buyout, which is likely to be followed by a layoff. The 778-lawyer firm also has pushed back the start date for its 2009 first-year associates to January and shaved two weeks off its summer associate program.
Robert W. Webb Jr., the firm’s chairman, said he held a meeting with staff, and then with associates Friday afternoon to give them the news. “I’ve never done this in my 16 years as managing partner,” said Webb. “I never thought I’d have to.”
