On Lehman, Goldman Layoffs
By BankersBall on Mar 11, 2008 in Cube Life, Job Hunting, Layoffs
The cuts aren’t in just one area. About 1,430 people are getting laid off from Lehman Brothers, an unnamed person familiar with the matter told Reuters. The cuts will “cross all divisions and regions, and employees affected are being notified on Monday,” according to Reuters. The Reuters article was published on Monday, March 10, so presumably they were notified yesterday. (Can anyone confirm that?)
The Lehman cuts are more aggressive than the Goldman cuts and go “beyond performance”, according to Dow Jones.
An unnamed source tells Dow Jones that even Goldman’s annual cuts have been more aggressive than its usual 5%.
Last year Lehman axed 2,000+ jobs and shuttered its subprime unit. Cut 240 jobs — 100 jobs at Encore Credit and 140 jobs at Bear Stearns Residential — in mid-August (see last year’s roundup here).
On Mar 12, 2008, Nooch said:
My wife works for Lehman in Tokyo. She was just informed of lay-offs in NYC about 30 minutes ago (Wednesday 8PM Tokyo time 7AM NY time). Needless to say, she is a nervous wreck right now.
On Mar 15, 2008, SB said:
This guy’s currently at Bear Stearns. Give him a few reviews/suggestions, looks like he might need it very soon:
http://razume.com/resume/view/322
On May 8, 2008, Dickhead Fold said:
Lehman is about to become the next bear sterns..get out whie you can..more layoffs next week…muhahahahaha
On May 15, 2008, Anonymous said:
Monday means May 19th
On May 15, 2008, Anonymous said:
Monday Front Office
Tuesday Back Office - corp jobs