The long awaited layoffs at Barcays Capital are underway.
Several people were let go last night, according to people inside the firm. Included among those laid off were legacy Lehman Brothers staffers, one person said.
The exact extent of the layoffs is unclear. Barclays could not immediately be reached for comments.
Inside of the firm, the rumor is that seven percent of the capital markets workforce will be let go.
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