Lehman Brothers Holdings Inc. (NYSE: LEH), a diversified, global financial services firm, faces more than 5% shares fall after it reported about an additional 1,300 layoffs.
A participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking, Lehman Brothers, announced that it will substantially reduce its resources and capacity in the U.S. residential mortgage origination space in light of the dislocation in the mortgage markets. As a result, Lehman Brothers is suspending all Wholesale and Correspondent mortgage originations at Aurora.
Lehman is going to close 3 operational centers in California, Florida, and New Jersey, and take $40 million for severance, technology and facilities costs.
Lehman Brothers' stock has fallen to $55.07, with the day's Range: 54.50 - 58.88.
The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations