270 employees in Lehman S'pore await their fate
By Nicholas Fang, Channel NewsAsia | Posted: 15 September 2008 1932 hrs

	Photos  of
	Related News • Lehman bankrupt, Merrill taken over in new financial earthquake • World shares tumble on Lehman Brothers' collapse • World markets plummet on Lehman woes • Lehman employees in Asia anxiously await fate

SINGAPORE: Lehman Brothers' decision to file for bankruptcy protection has left its employees in Singapore in limbo.

The company's 270 employees at its Suntec City office were left in the dark on Sunday when news of the Chapter 11 filing broke.

A source told Channel NewsAsia the mood in the office was sombre and the employees had not been officially informed of their fates.

They are expecting to hear from the company on Tuesday what exactly will happen to their jobs.

Lehman employs about 3,000 staff in Asia, excluding the India back office.

The Wall Street bank had expanded aggressively in the region over the past two years, growing its foreign exchange and investment banking operations in Singapore, Hong Kong and Mumbai.

The Singapore Exchange said in a statement that Lehman is meeting its financial obligations to the securities and derivatives Clearing Houses here in Singapore. - CNA/vm