May 8, 2020 / 8:46 PM / 16 days ago

Pepper Hamilton cuts pay, says July merger with Troutman Sanders still on

Pepper Hamilton on Friday said it is cutting pay across the firm due to the coronavirus pandemic, but that it still plans to merge with another one of the largest U.S. law firms, Troutman Sanders, on July 1.

The Philadelphia-based firm has reduced distributions to its partners and is introducing salary cuts that amount to an annualized salary reduction of under 12% for all other attorneys, it said in a statement on Friday. All staff with salaries of $60,000 or more will have their salaries reduced on a graduated scale, with annualized cuts for the majority of those employees ranging between 3% and 9%.

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