We've been telling people to expect a whole lot more layoffs. According to CNBC, Lehman Brothers will lay off about 5 percent of its workforce, which could amount to 1,000 to 1,500 jobs. The cuts will come across all business segments. Last year, Lehman cut about 4,000 jobs, most of those from mortgage operations. It's a fair question to ask, then, who will announce additional cuts next? The first quarter is not likely to spell the end of problems for top banks. Costs are one thing that executives can control, and when necessary, they will wield the axe. The bottom performers, of course, are the most vulnerable.  

For more:
- here's the CNBC article

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