Luminent Mortgage's Doyle exits firm

Real Estate Investment Trust Luminent Mortgage Capital recently laid off 30% of its workforce including Jim Doyle, who managed the company's CDO platform, as well as other members of the CDO team. He was hired in 2006 from Declaration Management & Research. "We are engaged in an appropriate amount of employee downsizing of approximately 30% of our workforce across the organization. These cuts will help stabilize the company's cost structure as we move forward," said a Luminent spokesperson. Calls and an e-mail to Doyle for comment were not returned by press time. The company plans to file an 8-K with the Securities and Exchange Commission tomorrow announcing the layoffs.