Lehman's UK staff to get paid
Updated on 17 September 2008
The administrators for Lehman Brothers' UK arm has said staff will be paid by the end of the month if they show up for work.
PricewaterhouseCoopers partners Tony Lomas and Steven Pearson said in an internet briefing: "Before the end of the month, we will be paying all staff here...so long as, of course, they are turning up to work."
Lehman Brothers International (Europe) is the European unit of Lehman Brothers, which filed for bankruptcy protection earlier this week.
The news led to sharp falls in share prices around the world with the Dow Jones Industrial Average ending more than 504 points lower on Monday, marking its biggest fall since the September 11 attacks.
Lehman had incurred losses of billions of dollars in the US mortgage market.
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