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Lehman To Lay Off 5 Pct Of Workforce - Cnbc

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NEW YORK, March 10 (Reuters) - Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research), the Wall Street investment bank, is laying off 5 percent of its work force, covering all lines of business, CNBC television said on Monday.

A Lehman spokeswoman did not immediately return a call seeking comment.

Lehman employed about 28,600 people as of Nov. 30, 2007, according to the company's most recent annual report.

The company cut a few thousand jobs last year, as the nation's housing slump hurt mortgage operations.

(Reporting by Jonathan Stempel, editing by Gerald E. McCormick)

((jon.stempel@reuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.reuters.com@reuters.net))

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I heard this afternoon from a mortgage broker that Northern Rock has ceased to be offering Sub-Prime mortgages with immediate effect. These loans were funded by SPML (Lehmans)!

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A very good friend of mine has said that he expects 10% job cuts at Lehman Canary Wharf - this week. Its dependent on area - credit derivatives will get a spanking

Edited by DoctorJ

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  • 294 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
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