After talk that Barclays would keep many Lehman Brothers employees on after buying the bankrupt firm's broker-dealer business, the AP reports the British firm "announced Monday that Lehman Brothers has begun to re-open for business under the ownership of Barclays Capital." However, according to the Post, "about 10,000 Lehman employees of the units that Barclays is buying were sent letters stating there will be no guarantees they will keep their jobs" and many are being interviewed. More: New York magazine has an article about a Lehman trader coping with "income shrinkage" and the Sun finds the NYC pension fund "lost $200 million since June from the collapse" of Lehman, Merill Lynch and AIG.
Barclays to Retain About 10,000 Lehman Employees
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"It puts more of a burden on New York — puts more of a burden on 49 other states."
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