Lehman Brothers layoff update

Lehman Brothers Holdings Inc. is cutting 750 jobs, effective Tuesday, in its European fixed-income and personal investment management units.

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Lehman Brothers, which filed for bankruptcy two weeks ago, could not find a buyer for the unit, which is based in London. Nomura Holdings Inc. agreed to buy the European investment banking and equities units last week. PricewaterhouseCoopers LLC had been trying to also sell Nomura the fixed-income business to save jobs, according to a Bloomberg report. - Maria Woehr

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