- Troutman Sanders and Pepper Hamilton — two large law firms set to merge with each other July 1 — are canceling their summer associate programs because of the disruption caused by COVID-19.
- Spokespeople for the firms said they were ensuring future employment for those affected, even with the cancellation.
- Business Insider has reported on how law firms have already been taking steps to cut costs as billings dry up, including pay cuts, staff layoffs, and delays in summer-associate start dates.
- Click here for more BI Prime stories.
The large law firms of Troutman Sanders and Pepper Hamilton have canceled their summer associate programs for 2020 because of the disruption caused by the novel coronavirus, the firms confirmed to Business Insider.
The moves mark the latest example of how COVID-19, which has killed more than 85,000 worldwide and kept people indoors as government officials issue stay-at-home orders, is affecting law students who aspire to become associates at top law firms.
The spokespeople said the firms were ensuring future employment for those affected, even with the cancellation.
Business Insider has reported on how law firms have already been taking steps to preserve cash as billings dry up, including pay cuts, staff layoffs, and delays in summer-associate start dates.
Rising third-year law students are receiving offers to join as full-time associates in fall 2021, while rising second-year students have been given offers to join in the summer of 2021, the spokespeople said.
“We are providing each of our summer associates financial assistance,” the Pepper Hamilton spokesman said.
It could not immediately be determined how many students were affected.
The Troutman spokeswoman said that the firm, like many others, was “taking a variety of steps to reduce expenses.”
“At this time, none of those measures involve layoffs, involuntary leaves, or reduced compensation,” she said. “We will continue to monitor the economic impact of the COVID-19 virus and, if necessary, implement any future actions after careful consideration and with a measured approach.”
She said because the firm’s focus remains on the health and welfare of its people and their families and on serving clients, “we do not believe we can provide a meaningful summer associate experience for the students.”
The cancellations also mark just the latest road bump for Troutman and Pepper because of the coronavirus.
The firms had announced in January that they would merge with each other to create a 1,100 lawyer firm in 23 locations. That merger, which was supposed to take effect April 1, was pushed back to July 1 because of the coronavirus, the firm told The American Lawyer.
Leave a Reply
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
