Lehman Employees Getting Stiffed

Nobody expected warm fuzzies, but the harsh treatment of Lehman's rank and file contrasts sharply with those from Bear Stearns, who, in some cases, had weeks to clean out their desks and goof around while collecting severance that, in many cases, will run into 2009.

This sucks:

The message delivered to shocked Lehman Brothers staff on Monday was simple and direct.

“It’s over,” announced Christian Meissner to a morning staff gathering just a week after being appointed to run Lehman Brothers in Europe. He told the staff to look for new work and “move on”.

Some staff were also told not to expect a paycheck at the end of the month and that they might even be liable for expenses on their corporate credit cards. FT

The hordes of tourists who gathered to gawk outside of Lehman's midtown HQ were even treated to performance art; and deserved to get run over by impatient employees leaving work for the last time.
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'People were walking around in shock, girls were crying and guys were hugging and people were drinking lager and red wine in the canteen bar' Sphinx Patterson, personal trainer at Lehman Brothers

'I got an email on Sunday telling me to come in early and report to my desk and then everyone got told they were excused for the rest of the day. We are worried we won't get this month's pay cheque on Friday. I have to apply for a visa to stay in the UK now'
Duo Ai, research department

'It's unlikely anything is going to happen and everyone is finishing up. It's like a terrible death or like a massive earthquake'
Kirsty McCluskley, trading floor

'I just rented a flat with a six-month contract so I will have to find another job in London to finance it'
Edouard d'Archimbaud, first day on trading floor

'It is bad news for everyone. My career is screwed. Everyone is upset' Jack Reynolds, graduate trainee
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Exodus of employees told to ‘move on’
Financial Times

Jobs cull begins in London and New York as Lehman Brothers goes to the wall
Guardian

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