Wednesday, 25 May 2016
Last updated 4 hours ago
Dec 4 2008 | 12:02am ET
The Carlyle Group yesterday cut 10% of its staff, undoing a year’s worth of hiring at the prominent private equity firm.
The Washington, D.C., buyout shop laid off 100 employees, the first firmwide layoff in its history, The Wall Street Journal reports. The job reduction comes after a year-long hiring spree at Carlyle, leaving the firm at about 900 employees, the same size it was in 2007.
Among the casualties is Carlyle’s Silicon Valley office, which it opened less than a year ago.