US private equity firm Carlyle is cutting 10% of its staff in the latest indication of the sector’s vulnerability to financial markets upheavals. Carlyle’s staff cuts, which total 100 people, brings the firm back to where it was in early 2007. All the major private equity firms expanded and diversified in recent years in expectation of going public after Blackstone listed 18 months ago. Carlyle has now said it will cut back selectively. Its recently created financial services team will be untouched, but its buy-out group will be trimmed back. The firm last week said it would close two of its newest emerging market ventures – its central and eastern Europe operations and its Asian leveraged finance business – triggering the departure of about 19 staff at the two businesses.

This entry was posted by Gwen Robinson on Thursday, December 4th, 2008 at 5:27 and is filed under People, Private equity. Tagged with carlyle. Edit this entry.