Sun Capital Laying Off 23, But Why?
Seemingly out of nowhere, Sun Capital is laying off 10% of its workforce. The turnaround buyout firm—which I was just writing about as having a strong position going into the new year—is cutting 23 from its 200-person staff, a spokesperson confirmed. This is confusing to me since the firm only last year raised its largest ever fund, oversubscribed by $2 billion. Meanwhile, it is in the midst of prime feeding season for turnaround firms like itself. Sun’s biggest selling point is its massive staff of seasoned turnaround operating experts. Did the firm get ahead of itself in its 2008 ramp-up?
7 January 2009•3 mins read
