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Lehman Brothers job cuts to start next week: report
NEW YORK (Reuters) - Investment bank Lehman Brothers Holdings Inc <LEH.N> will begin cutting jobs starting next week, CNBC Television reported on Friday, without citing sources.
The business news TV channel said Lehman would cut 5 percent of its 28,000 jobs. Reuters reported in early March that Lehman was planning to cut 5 percent of its work force at that time. It was unclear if the planned layoffs reported by CNBC were in addition to those previously reported.
Lehman spokesman Mark Lane declined to comment on what he called speculation about layoffs.
Numerous other Wall Street firms have been cutting jobs as business slowed in various areas, including investment banking, residential mortgages and asset-backed securities.
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The job cuts reported in March were said by a person briefed on the matter to be across all divisions and regions.
(Reporting by Christian Plumb, Dan Wilchins and Joseph Giannone; Editing by Tim Dobbyn and Dave Zimmerman)
