Carlyle Group Laying Off 10%, Closing Menlo Park Office
Earlier today, I wrote about "hearing that at least two U.S.-based mega-buyout firms are holding internal discussions about firm-wide cuts." One of those firms was The Carlyle Group, which is now confirming a WSJ report that it will cut 10% of its workforce and close its Menlo Park, Calif. office. "In response to extraordinary market conditions, Carlyle has taken measured steps to balance its cost structure with the current investment climate," says Carlyle spokesman Chris Ullman. "The firm is well positioned to take good care of our investment portfolio and has the resources to create and respond to compelling investment opportunities." The decision will result in approximately 100 layoffs, which comes on top of Carlyle’s moves last month to close both its Warsaw office (10 staffers) and its Asia leveraged finance team (7 staffers). A majority of the affected employees work in the back-office, but dozens
