Sean McCown has a script to truncate log files:
I want to show you a great piece of code to truncate and shrink all your log files. The biggest question you always ask is why should you shrink your log files? It’s been drilled into everyone’s head that shrinking log files is bad because you can cause too many VLFs, and of course there’s the zeroing out that happens when they grow.
OK, so let’s answer that question. There are a couple reasons you’d want to shrink all the files to a small size.
Regularly shrinking log files in production isn’t a particularly great thing, but as Sean points out, there are valid reasons for doing this.