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Video: 3000 jobs to go in Barclays takeover of LehmanThis forum post is dated 08/15/10. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it. New Jersey - Banking Jobs
| Video: 3000 jobs to go in Barclays takeover of Lehman EmploymentCrossing.com London-based Barclays will cut 3000 jobs following its purchase of Lehman Brothers', North American investment banking and capital markets businesses, according to Fortune Magazine. Barclays president Bob Diamond confirmed the headcount reduction, and said that he hoped the operation would complete by the end of the year. "Most of the cuts are expected to come in areas where Lehman and Barclays Capital have a lot of overlap, such as fixed income and in support functions like information technology, " the Fortune report stated. Barclays Capital employs 26000 workers. In September, the third-largest British bank acquired Lehman's North America operations that include fixed income and equities sales, trading, and research and investment banking. About 10000 employees worked in those groups at Lehman, which is now part of a unit known as Barclays Capital. Barclays paid $250 million for Lehman's banking and trading businesses and also $1.5 billion for the bankrupt bank's New York headquarters and two data centers in New Jersey. |
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