Additional jobs are to be lost at the London offices of Lehman Brothers in Canary Wharf.
A day after 750 jobs were axed at the firm, more are set to face the dole queue after no buyer could be found for the fixed income division of the investment bank.
Speaking to the London Evening Standard, one analyst said that up to 200 positions were likely to go today.
“No one knows who will be asked to go,” he said, adding: “I am in shock. It’s been like a hammer blow but we are doing our best to keep working for our clients.”
Another source told the paper: “It’s an absolute disgrace. I’m very unhappy about the decisions that were made at the top, the consequences of which are now being felt by the people.”
A third of those working for the section of the company bought by Japanese bank Nomura are thought to be up for redundancy.