A Voluntary Contraction of the Credit Market resulting in the Involuntary Liquidation of Physical & Derivative Assets at a Material Loss Causing a Severe Recession or even possibly a systemic financial meltdown
Reuters reported that Lehman Brothers laying off nearly 5% of its workers globally amid difficult market conditions. The latest cuts are in addition to the layoffs of more than 5,000 people since mid-2007.
Lehman Brothers To Cut About 5% Of Staff Globally
Reuters reported that Lehman Brothers laying off nearly 5% of its workers globally amid difficult market conditions. The latest cuts are in addition to the layoffs of more than 5,000 people since mid-2007.