Post Mortem: A Geographic Breakdown Of American Capital Layoffs

Want to know what’s left of American Capital after it announced 110 layoffs and two office closings? The company’s statement from Tuesday night was quite vague, so we’ve dug up some rough details on this weeks round of pink slips. Remember this is ACAS’ second round of layoffs, the firm let 80 people go in May of this year.

peHUB has confirmed that the two office closings went to Palo Alto and Boston. The damage done to the rest of the firm’s branches is broken down below. This is an approximation compiled by conversations with various sources familiar with American Capital.

Bethesda Headquarters
Buyout Team lost 4 people.
Back office lost approximately 15.
Communications Team lost Bryan Maney. Maney left several weeks ago.
Estimated total cuts: 20

New York
Business Development lost 3
Buyout team lost 2
Sponsor Finance lost five
Syndication lost 3
Back office lost 3
Includes John Capperella, MD Second Lien, and Craig Kaplan, Director of Private Capital Fundraising
Total cuts: about 19

Chicago
Office location set to move.
Buyout team lost 7 people.
Special situations team lost 5.
“FAC” team (valuations and diligence team) lost 6.
Back office lost 2.
This count includes Greg Newmark, MD Buyouts, and Dean Anderson, MD, Special Situations.
Total Cuts: 20 out of 22 employees.

Dallas
Buyouts team lost 1.
Energy teams lost 4.
Back office lost 2.
Includes Mike Schmitz, a Vice President in the Buyouts Group, William Dyer, Principal in Sponsor Finance, Jay D. Squiers, a Principal in the Energy Group, and Diane Prier, a Principal in Operations.
Total cuts: 7

London
Total cuts: 6

Los Angeles
Sponsor Finance lost 2
Special situations lost 2.
Credit opportunities lost 5.
Total cuts: 9

Madrid
Total Cuts: 4
Office closed.

Palo Alto:
Office closed.
Financial professionals (division unclear) lost 5.
Back office lost 1.
Total cuts: 6

Boston
Office closed.
Sponsor Finance team lost 3 people.
Estimated total cuts: 3.

This equates to about 88, so taking into account an estimated 10-15 more layoffs occurred in Europe, there could be a few more US layoffs not accounted for. It’s not that they haven’t been done—the layoffs occurred in one fell swoop between Monday and Wednesday. The regional listings on ACAS’s Web site haven’t been updated, either.

If you have names, titles or numbers to offer, contact me here, leave an anonymous tip here, or a comment below and I’ll update this list accordingly.