Fallout: Carlyle Group Cuts 10% Of Workforce, Closes Menlo Park Office

Michael Arrington

J. Michael Arrington (born March 13, 1970 in Huntington Beach, California) is a serial entrepreneur and the founder of TechCrunch, a blog covering startups and technology news. Arrington attended Claremont McKenna College (BA Economics, 1992) and Stanford Law School (JD, 1995) and practiced as a corporate and securities lawyer at two law firms: O’Melveny & Myers and Wilson Sonsini Goodrich... → Learn More

Thursday, December 4th, 2008

Carlyle Group, the world’s second largest private equity fund, is laying off 10% of its worldwide workforce, or about 100 people. Carlyle has $91.5 billion in assets under management.

They’re also closing their Menlo Park office outright.

β€œIn response to extraordinary market conditions, Carlyle has taken measured steps to balance its cost structure with the current investment climate,” the company said.

More here and here.

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