The financial effects of Lehman's failure are well-known. Less known is the human cost of a bankruptcy that left thousands unemployed.
In the US, Lehman employed just over 10,000 of its global workforce of 25,000 and Barclays, which bought the group's US business, already had 3,500 staffers in North America.
Barclays Capital made temporary job offers to 10,000 ex-Lehman staff. But by January, once redundancies were sorted out, BarCap had a combined headcount of 11,000, meaning that 2,500 people – from both Barclays and Lehman – had gone. Also, several hundred Lehman people were never offered jobs at BarCap.
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