Lehman sheds 750 jobs as sale fails

(PwC), Lehman’s bankruptcy administrator in the UK, has revealed it has failed
to find a buyer for its fixed income and personal investment management units
and was forced to eliminating 750 jobs, with effect of yesterday.

‘It is extremely disappointing that despite exhausting all avenues these jobs
could not be saved,’ Tony Lomas, PwC partner and joint administrator, said.

‘As we move into our third week, we continue to be focussed on maximising the
value of recoveries for creditors, whilst minimising the impact on other
stakeholders as much as possible.’

His comments follow the sale of Lehman’s European and Middle East businesses
to Japanese Nomura bank last week, securing the continued employment of 2500
Lehman staff.

Further reading:

Nomura deal saves 2,500 Lehman jobs

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