Layoffs And Bankruptcy At Lehman Brothers: Lehman Brothers Responsible For Massive Job Losses

by Demetrios Tzortzis - Date: 2008-10-05 - Word Count: 344 Share This!

The one-time world standard for brokerage house success, Lehman Brothers, has laid off thousands of employees each and every fiscal quarter this year. It has also filed for bankruptcy. The deterioration of the mortgage market, centered in the residential and commercial real estate sectors, has rocked the corporation to its severely-weakened foundations, and it continues daily to border on total collapse.

Traders and bankers who have so far managed to dodge being laid off in previous quarters know that it's just a small matter of time before the chopping block waits outside of their office doors too. But Lehman Brothers surely isn't the only failing firm on Wall Street; every major player is affected and they all are being bailed out from the already-depleted US government - to the tune of $700 billion. You've got to ask yourself who is really going to be paying for all of that.

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