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Commentary

Lehman Bankrupt, Employees in India leaving

Lehman Brothers is Bankrupt. After Barclays dropped out and Bank Of America went to Merrill Lynch, Lehman had nothing available on the table so it filed.

In India, Lehman’s folks are moving fast, says VC Circle. Staff are moving out, it seems, to other investment banks and brokerage houses. Rumours are that the Mumbai office will have a deserted look from tomorrow, and that their proprietary trading folks have already moved out.

The job cuts have started, it seems. And it’s everywhere.