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Troutman Sanders announces salary cuts

July 24, 2009

Troutman Sanders announced a 10-percent reduction in associate pay. The salary cut becomes effective Aug. 1 and remains in effect through the rest of the year, the firm said in a statement.

Atlanta-based Troutman said the salary reductions are not companywide but will be based on each associate’s performance evaluation.

Like other law firms that have looked to reduce costs in recent months, Troutman said the moves are in response to the current economy. Several law firms have cut staff, salaries or slowed the hiring of new associates as the slow economy has led to a general slow down in business.

--PÉRALTE C. PAUL

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