Heads Keep Rolling at Mid-Market Lenders
If you're a mid-market lender, chances are that you've canned a few people in recent weeks (I believe the sanitized term is "headcount reduction"). We're hearing about layoffs and office closings at Orix Capital Markets, Bank of Ireland, Newstar Financial and National City. That's in addition to the cuts we recently reported at Churchill Financial and Freeport Financial. To be more specific: Bank of Ireland laid off 10% of its staff around a month ago, a source close to the situation said. It doesn't plan any further reductions, and has around 30 on its staff now. The layoffs are concentrated in the origination side and were driven by a lack of deal flow.
25 February 2009•2 mins read
