Troutman and Pepper Cancel Summer Programs, Make Job Offers Amid COVID-19 Disruption
Each firm, without providing details, also said it was providing summer associates with "financial assistance."
April 10, 2020 at 02:13 PM
2 minute read
Troutman Sanders and Pepper Hamilton have canceled their summer associate programs due to disruption from the coronavirus pandemic. The firms are set to merge July 1 after pushing back their initial April 1 merger date.
Instead of summer programs this year, the firms are making offers to the rising 3Ls in their respective summer programs to join the combined firm, Troutman Pepper, as full-time associates in the fall of 2021, and they are giving rising 2Ls offers to return as summer associates next year.
Each firm, without providing details, said it was providing summer associates with "financial assistance."
"Because our focus remains on the health and welfare of our people and their families and on serving our clients, we do not believe we can provide a meaningful summer associate experience for the students," Atlanta-based Troutman said in a statement.
Similarly, Philadelphia-based Pepper said its decision "arises out of our conclusion that, given current and expected conditions, we cannot provide for a meaningful summer experience that allows our students to perform to their full potential."
Troutman reported healthy gains in revenue and profits last year. In 2019, Troutman's revenue increased 5.4% to $549.6 million and net income increased 6.2% to $207.7 million. Profits per equity partner jumped 8.4% to $1.164 million.
Meanwhile, Pepper saw gross revenue grow 4.5% in 2019 to $349.4 million, after three years of declines. Revenue per lawyer was up 3.7%, at $818,000. The firm saw a 13.6% jump in profits per equity partner to $943,000.
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