Employees of bankrupt Lehman Brothers Holdings Inc. across the globe are suddenly out on the street and looking for new jobs — and the 1,300 at the Japanese unit of the U.S. securities house in Tokyo are no exception.
Following the bankruptcy of its parent company on Monday, Lehman Brothers Japan Inc. filed for bankruptcy protection Tuesday with the Tokyo District Court.
The Financial Services Agency ordered it Monday to suspend operations through Sept. 26 after receiving a warning that it might default on its obligations in the longer term.