Lehman Brothers, which went spectacularly bankrupt yesterday, was a technology powerhouse that pioneered grid computing and was able to sell the technology it developed in house to traditional software vendors. The bank spent $1.14 billion last year on IT and employed 25,000 staff in total, including more than 5,000 in the United Kingdom. The future of those staff and the projects they were involved in is now in doubt as administrators study the books.
Lehman Brothers: Will IT Innovation Go Down with the Bank?
September 15, 2008