Thursday, August 28, 2008

Lehman Plans to Lay Off 1,500

Lehman Brothers plans to lay off as many as 1,500 employees, or nearly 6 percent of its work force, before it announces third-quarter results on Sept. 15, a person briefed on the plans told NYT.

Lehman has already laid off 6,000 people since June 2007, mostly in its mortgage origination and securitization businesses.

It it unclear from what divisions Lehman plans to make the new round of layoffs.

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