Type
Bankruptcy
Country
European Union
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

750 jobs
Number of planned job losses
Job loss
Announcement Date
30 September 2008
Employment effect (start)
30 September 2008
Foreseen end date
30 September 2008

Description

Lehman Brothers, the fourth-largest investment bank in the US, has filed for bankruptcy and administrators have announced that they are to cut 750 jobs with immediate effect. They have announced that the vast majority of the cuts will be made in London, where the firm employed about 5,000 people.


Sources

  • 30 September 2008: BBC Website

Citation

Eurofound (2008), Lehman Brothers, Bankruptcy in European Union, factsheet number 67193, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67193.