Lehman Brothers Raises Layoff Axe, Invents New Way To Say "You're Fired"
Lehman Brothers (LEH) layoffs are expected next week. Some soon-to-be-whacked employees have apparently found out their unfortunate fates in advance. A reader submits:
A friend of mine...has heard of their likely layoff (rumors are many coming next week), not thru a direct communication from a superior, but by receiving a notice re COBRA benefits and monthly costs. They expect the official word of layoffs is coming next week. Sad way to learn about your future.
Definitely. Eliminates the need for those awkward termination speeches, though.




Everyone is frustrated because nothing from management is said to the staff. It really is weak leadership from dick and his team.
She predicts over 8,000 people will be laid off!!!
She predicts over 8,000 people will be laid off!!!
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I saw some people crying, some looked stunned and others looked like they were happy to be on the job market. One person said he had plenty of money saved so he didn't care one way or another. He was really cool-headed. It's good that a lot of those workers earned big bonuses last year because they're probably gonna need to use it this year.
It probably won't be easy for lower level workers to get another job in finance anytime soon. Nothing like a vacation before the holidays when you least expect it.
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