Lehman Brothers Holdings Inc. plans to lay off as many as 1,500 employees or 6% of its work force a person who has been briefed on the plans told The New York Times.
The New York-based investment bank plans to make the announcement before reporting its fiscal third-quarter earnings on 15 September.
Lehman Brothers has shed 6,000 workers since June 2007, primarily from its mortgage origination and securitization businesses.
The full story is available at the Investment News web-site.