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The Honolulu Advertiser
Updated at 10:32 a.m., Wednesday, December 3, 2008

Carlyle Group, owner of Hawaiian Telcom, cuts 100 jobs

Advertiser Staff

The Carlyle Group, the private-equity firm that owns Hawaiian Telcom, said today it is cutting 100 jobs, or 10 percent of its workforce, as the leveraged-buyout business remains stalled.

Hawaiian Telcom, which Carlyle bought in 2005, filed for bankruptcy protection earlier this week.

Some of the dismissals come at the Washington-based firm's group dedicated to taking U.S. companies private, spokesman Chris Ullman said today in an interview. He declined to be more specific. The layoffs are separate from Carlyle's decision last month to shutter its Central European and Asian leveraged-finance units, which eliminated fewer than 20 jobs.