From: Scottrade

More Lehman Layoffs To Come

Lehman Brothers Holdings Inc. (LEH) employees may

spend the weekend nervous in anticipation of the layoffs

that are set to begin Monday.

The investment bank plans to let go of roughly 1,200 positions

across the board.

A Lehman Brothers spokesman declined to comment.

The layoffs, which were previously announced, will be the

fourth round of cuts this year. The last time Lehman

Brothers laid off employees was a mere three months ago,

when 1,400 employees were let go.

In March, 1,400 professionals were axed, and in January,

Lehman fired 140 fixed-income traders and salesmen in

New York in the areas of structured finance, commercial

real estate, and securitization and trading of mortgages

and collateralized debt obligations. Lehman also

announced 1,300 job cuts to its Aurora Loan Services

business that month.