The New York Times

Lehman Plans to Lay Off 1,500: Report 

Lehman Brothers Holdings Inc. [stock LEH][/stock], which has been subject to ongoing speculation regarding its future and direction since the fall of Bear Stearns & Cos. earlier this year, is planning to cut another 1,500 from its staff before it releases third quarter earnings in mid-September. According to the New York Times, which first reported on the story and cited an unnamed source at the firm, the cuts would amount to roughly 6 percent of existing staff.