Lehman Mortgage Capital

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Lehman Cuts 850 As Part of Mortgage Restructuring; Consolidates Mortgage Operations

Sep 06, 2007By

Lehman Brothers said this morning that it has eliminated 850 positions in the U.S. and UK amid a restructuring of its mortgage business, a move that the investment bank said “sizes the business appropriately for the current market environment.” The company also said it is closing its Korean mortgage business. No details were given on what percentage of the 850 cuts were centered in the company’s US-based operations.

3d rendering of a row of luxury townhouses along a street

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