Layoffs at Churchill Financial

Mid-market lender Churchill Financial yesterday laid off around one-third of its staffers, peHUB has learned. Most of the cuts came on the origination side, as Churchill has been hammered by the industry-wide deal drought.

“The number of origination folks we had compared to the number of deals we had was just out of whack,” says a source within Churchill. “These were good people in a bad situation. It didn’t have anything to do with them individually… If things turn around, I’d imagine we’d jump right back into hiring mode.”

Among those let go were Chicago-based managing director Kevin Murray, some senior members of the firm’s Boston office and a mezzanine pro in Los Angeles. We’ll have more on this story Monday…