by Calculated Risk on 8/28/2008 02:03:00 PM

From Bloomberg: Lehman Said to Be Poised to Eliminate as Many as 1,000 Jobs

Lehman ... is preparing to eliminate as many as 1,000 jobs in what would be the firm's fourth round of cuts this year ... The cuts may be announced when Lehman ... releases third-quarter financial results next month ...

And more cost cutting from Citigroup, from Craine's Internal memo reveals Citi penny-pinching

[A]ccording to published reports, management at one of the biggest U.S. banks has not only banned off-site meetings among employees—it’s also asked workers to cut back on the amount of photocopying they do.

According to an internal memo confirmed by a Citigroup spokesman, the bank wants presentations to be printed double-sided to reduce unnecessary paper usage. In addition, the use of certain copiers will be confined to client presentations. “Over time, we will be removing color copiers and printers from the locations where they are not essential,” the memo stated.

... And in perhaps the biggest blow of all to investment bankers, the memo says Citi will be conducting a review of BlackBerry usage.

You know it's tough when they limit color copies.