2,500 Indians may lose jobs: markets rocked
US Investment giant Lehman Brothers on Monday said it has gone bankrupt amid a worsening credit crisis in the home country, while rival Merrill Lynch, also bitten by the same bug, managed to find a buyer.
The news roiled markets worldwide, including India where the Bombay Stock Exchange's Sensex plunged 850 points, or 6.1per cent, in intra-day trading. It later recovered halfway to close at 13, 531 points.
But Lehman and Merrm Lynch's India connection goes much beyond stock swings. Both companies have been rapidly expanding operations here, besides hiring aggressively in India to shore up talent for such key bases as New York and London.
Lehman currently employs about 2,500 people in India, most of whom run the risk of losing their jobs.
To read the full article, click here..
To read the ePaper, visit: http://epaper.hindustantimes.com
The news roiled markets worldwide, including India where the Bombay Stock Exchange's Sensex plunged 850 points, or 6.1per cent, in intra-day trading. It later recovered halfway to close at 13, 531 points.
But Lehman and Merrm Lynch's India connection goes much beyond stock swings. Both companies have been rapidly expanding operations here, besides hiring aggressively in India to shore up talent for such key bases as New York and London.
Lehman currently employs about 2,500 people in India, most of whom run the risk of losing their jobs.
To read the full article, click here..
To read the ePaper, visit: http://epaper.hindustantimes.com
Labels: bankrupt, BSE, credit crsis, employees, Indians, jobs, Lehman Brothers, London, Merrill Lynch, new york, rival, Sensex, trading, US investment
posted by PressMart Team at
10:09 AM
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