Skip to main content

Layoffs Watch '09: BarcLehs

  • Author:
  • Updated:

Cuts are said to be scheduled to begin going down today at BarcLehs. Few details at this point, but apparently they are going to be "big" and that "a lot of people that came from the Barclays side of the integration are worried, [since] the Lehman side went through 4-5 rounds of layoffs even before the integration, so any that are left are best-of-the-best." In related news, the Brits have issued a statement addressing rumors that former Lehman Brothers investment bank head and current BarcLehs senior executive Hugh "Skip" Mcgee III will receive $50 million for the next two years of work. Spokesman Peter Truell said they are "categorically false," which means there might be some left over for money for severance?