Investment bank Lehman Brothersis laying off 5 percent of its work force across all lines of its business, CNBC has learned.
The cuts are to come today, said sources within the firm who added that they expect further layoffs at Lehman.
Lehman employed about 28,600 people as of Nov. 30, 2007, according to the company's most recent annual report.
Several major U.S. investment and commercial banks, including Bank of America, Citigroup, and Merrill Lynch have announced thousands of job cuts each since the middle of 2007.
That leads to today's Reader Poll. How do you feel about layoffs as a way to address the current mortgage mess?
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