What a sad site at the Lehman Brothers’ headquarters on Sunday night. You could see scores of employees entering and exiting the building with boxes, bags, personal items and suitcases. Lehman Brothers announced that it is filing for bankruptcy after all potential buyers declined to participate in a buyout.
We have seen three powerhouses : Bear Stearns, Lehman Brothers and Merrill Lynch crumble as a result of their shaky home lending portfolio.
Though I am concerned about the distress that this will cause to the overall economy; I am equally concerned about what will happen with the 26,000 employees at Lehman Brothers who had to walk away Sunday.
Do you think the government should offer assistance to these employees?
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2 responses so far ↓
TM // October 1, 2008 at 7:27 pm |
Lehman just reneged on severance packages from its pre-bankruptcy layoff agreements. Government stripped away the safeguards limiting the risks these corporations could take, and is now bailing out the fat cats who lobbied for the lack of restraint. As a hard-working and dedicated employee for 21 years, I’m left with nothing!
M // October 2, 2008 at 5:08 pm |
TM,
Did they reneg on the entire severance packages or did they just reduce the packages?