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Blackstone Group to cut seven per cent of workforce Blackstone Group to cut seven per cent of workforce

15 Dec 2008. Source: AltAssets.
Blackstone Group is the latest private equity firm to make cuts to its workforce, with plans to cut 70 of its 1000 strong workforce, according to reports.

The losses are mainly going to affect the firm’s New York offices.

This development follows reports of job cuts at the Carlyle Group, 3i and American Capital.

Carlyle reportedly trimmed around ten per cent of its workforce, and also closed its CEE office in Warsaw. Meanwhile, 3i culled around 15 per cent of staff , with American Capital cutting some 20 per cent of employees.

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