Troutman Cuts Associate Pay

Troutman Sanders announced Wednesday that the firm will cut associate pay, effective Aug. 1, for the remainder of the year -- but the pay cut will vary for each associate. "If we do increases that are merit-based, then we should do decreases that are merit-based," firm Chairman Robert W. Webb Jr. said. "What we are trying to do is get back to where we perceive the market to be," he said.