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Former Lehman Brothers employee: 'Collapse was a huge shock' Former Lehman Brothers employee: 'Collapse was a huge shock'
(4 days later)
Even in its final days, no one at Lehman Brothers really believed the bank would go under. When the share price collapsed on Friday 12 September, staff left for the weekend worried about their jobs, but assuming that a rival would ride to the rescue. "No one had expected bankruptcy. It was all a huge shock. You could not even comprehend that a bank like Lehman would collapse," says ex-employee Natalia Rogoff.Even in its final days, no one at Lehman Brothers really believed the bank would go under. When the share price collapsed on Friday 12 September, staff left for the weekend worried about their jobs, but assuming that a rival would ride to the rescue. "No one had expected bankruptcy. It was all a huge shock. You could not even comprehend that a bank like Lehman would collapse," says ex-employee Natalia Rogoff.
Rogoff found out late on a Sunday night that her "dream job" in client sales was about to disappear, when she read on her BlackBerry that the once-mighty bank was filing for bankruptcy. Like many of her colleagues, she went to the office the next day, unsure what to do.Rogoff found out late on a Sunday night that her "dream job" in client sales was about to disappear, when she read on her BlackBerry that the once-mighty bank was filing for bankruptcy. Like many of her colleagues, she went to the office the next day, unsure what to do.
Arriving at Lehman's Canary Wharf headquarters the next day, she took the underground route to avoid the camera crews outside. "On the trading floor everyone was just walking around. We didn't know what to do. [We were] talking to each other, calling each other, because no one would tell us what was going on… There was disbelief and uncertainty and anger."Arriving at Lehman's Canary Wharf headquarters the next day, she took the underground route to avoid the camera crews outside. "On the trading floor everyone was just walking around. We didn't know what to do. [We were] talking to each other, calling each other, because no one would tell us what was going on… There was disbelief and uncertainty and anger."
While scores of people filed out later that day, carrying their belongings in brown boxes, Rogoff was asked to stay for another two weeks. "It was bizarre coming to work when there was no work," she recalls. "There were a lot of headhunters calling, a lot of internet browsing."While scores of people filed out later that day, carrying their belongings in brown boxes, Rogoff was asked to stay for another two weeks. "It was bizarre coming to work when there was no work," she recalls. "There were a lot of headhunters calling, a lot of internet browsing."
Her partner had recently lost his job in a healthcare firm and they were worried about the future.Her partner had recently lost his job in a healthcare firm and they were worried about the future.
He had long dreamed of setting up an Italian food business and Rogoff decided to join him, something that would never have crossed her mind before.He had long dreamed of setting up an Italian food business and Rogoff decided to join him, something that would never have crossed her mind before.
Now 36, she says: "I was very much into my career. I would have thought it was completely crazy." Swapping 12-hour days at Lehmans to make pesto and pasta was hard work. "There was nowhere to go back then. It took a lot of effort and crazy hours and it was just the two of us." Now their firm, Seriously Italian, employs eight people and sells its pasta to London farmers' markets and restaurants.Now 36, she says: "I was very much into my career. I would have thought it was completely crazy." Swapping 12-hour days at Lehmans to make pesto and pasta was hard work. "There was nowhere to go back then. It took a lot of effort and crazy hours and it was just the two of us." Now their firm, Seriously Italian, employs eight people and sells its pasta to London farmers' markets and restaurants.
She is not looking back. "Having a corporate job can be very convenient. What we do now is very creative, but it is extremely hard work. There is no one to back you up. It's just you."She is not looking back. "Having a corporate job can be very convenient. What we do now is very creative, but it is extremely hard work. There is no one to back you up. It's just you."
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