The Carlyle Group, the private equity firm that bought now-bankrupt Hawaiian Telcom in 2005, is laying off 10 percent of its work force.
The Washington, D.C.-based investor group said the economy has taken its toll, especially since raising capital for investments is next to impossible right now. In addition to job cuts, the company is closing its Silicon Valley office, less than a year after opening it.
Onlookers fear this is the first of many cutbacks to hit the private equity sector.
Carlyle is a top-tier private equity company whose telecom portfolio includes Actelis, Hawaiian Telcom, and Genesis Cable Communications.
