Lehman Brothers Holdings announces job cuts

Lehman Brothers Holdings has announced that they are now going to cut as many as 1,300 positions globally.

This means that the company would be cutting their global workforce by around 5%.

The company has already cut more than 5,000 jobs in their operations since mid of last year.

They are not alone. A lot of other companies in the same industry are also cutting costs by eradicating jobs.

UBS recently announced their decision to cut 5,500 jobs.

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