5% of Lehman Brother staff said to face the ax beginning Monday

Monday is said to be D-Day at Lehman Brothers for the start of a new round of pink slips that will affect around 5% of the staff....

The reductions would amount to about 1,400 jobs, on top of the 5,000 that the firm eliminated during the past 10 months, Bloomberg data show. Brian Finnegan, a spokesman for the New York- based company, declined to comment.

Lehman employed about 28,000 people as of Feb. 29. Shares of the investment bank fell $1.13, or 2.5 percent, to $43.64 in New York Stock Exchange composite trading. The stock has dropped 33 percent this year.

The person with knowledge of the planned headcount reductions didn't say which Lehman units will be affected. The cuts were reported earlier by CNBC.

Lehman to Begin Cutting 5% of Workforce, Person Says - Bloomberg