HRG’s Salus Capital Lending Unit Said to Trim 40% of Its Staff
ByAbout 20 of Salus Capital Partners LLC’s 50 workers were dismissed Wednesday as HRG Group Inc. cut staffing at the unit that suffered losses on loans to RadioShack Corp., according to three people with knowledge of the situation who asked not to be identified because it isn’t public.
“Salus Capital Partners has taken proactive steps to bring its cost structure in-line with the size of its current operations,” according to a company statement sent by Brian Ruby, a spokesman for the lender at Integrated Corporate Relations. “While this has resulted in some reduction of the workforce, Salus will continue to focus on servicing its borrower clients, managing its portfolio and recovering the capital it is owed.” Ruby declined to comment on the number of people that were cut…
HRG’s Salus Capital Lending Unit Said to Trim 40% of Its Staff
