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Investment bank Lehman Brothers Holdings with new cuts of 1200 jobs |
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Friday, 29 August 2008 |
Investment bank Lehman Brothers Holdings is considering the possibility to reduce some 1200 jobs in yet another attempt to reduce their costs, reported Reuters, referring to anonymous source familiar with the topic.
The abbreviations are equal to about 5% of the workforce at the fourth biggest U.S. investment bank, which has already announced three stages in total reductions of 4 thousand positions this year.
The exact number of people who will be cut this time, is still subject to discussion. From Lehman have refused comment.
Credit crisis seriously affected the businesses of Wallstreet and Investment bank Lehman Brothers Holdings is not an exception. The company is looking for property buyers and mortgage securities worth about 40 billion dollars.
It is possible that in the next 10 days to Lehman announced a series of steps to reduce costs and limit the bad assets, analysts forecast. |
World Business 
