More Layoffs at Lehman Brothers

Friday, August 29, 2008

Lehman Brothers is preparing to cut more than 1,000 jobs. It's the company's fourth round of layoffs this year. The beleaguered brokerage house continues to be rocked by the deterioration of the mortgage market, especially in commercial and residential real estate markets. Next week marks the end of the third quarter and some analysts are predicting even more bad news. Aaron Elstein from Crain's New York Business joins us to help us make sense of the street.

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