Lehman Brothers (LEH) will fire 1,500 employees, roughly 6% of its staff before it announces Q3 results on September 15, says the NYT. No info on which divisions will get hit.
Analysts are forecasting Q3 write-downs that could reach $4 billion and losses of $3.30 per share. But with over $75 billion in exposure to risky assets, this round of layoffs could end up being only another interim step.
See Also: Lehman (LEH): Early Betting Begins On Massiveness Of Q3 Writedowns
Another Bomb That Citi (C) and Lehman (LEH) Hold: Commercial Real-Estate Loans
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