Lehman’s India Ops: Now With Nomura
By BankersBall on Oct 7, 2008 in Cube Life, Layoffs
Rest assured: that the person your outsourced job went to now has a job.
Three Mumbai-based businesses — Lehman Brothers Services India Private, Lehman Brothers Financial Services (India), and Lehman Brothers Structured Finance Services Private — accounting for 3,000 employees (approximately 1,200 are IT jobs) are to be acquired by Nomura, reports The Times Online.
The businesses were part of Lehman’s North American operations and provided “financial control, operations, risk management, as well as analytical support for various business verticals including Investment Banking, Capital Markets, Research and Prime Services.”
Also joining Nomura as part of the transaction are 150 European-based fixed income staff.
As for Nomura’s acquisition of Lehman’s Middle East and European investment banking businesses, the firm announced that the deal will legally close on October 13 and that the “vast majority of the top bankers from the businesses acquired in Europe and the Middle East have accepted positions with Nomura.”
Lehman employed approximately 2,500 in its Middle East and European businesses.
On Oct 9, 2008, Excel_monkey said:
Apparently, we’re getting our offer letters tomorrow and there are going to be no layoffs.
On Oct 9, 2008, mike said:
If you do not bring them to old USA, jobs will go to them! A new area!
PS: what you goes think of the bottom analysis at article below (pick it from DB and find it solid).
” Bottom analysis from
http://marketwarnings.blogspot.com/2008/10/dow-sp500-october-2008-bottom-buying.html