After Lehman: 'I loved my job there'

Elizabeth Moran, former vice president of talent management at Lehman Brothers, was laid off shortly before the firm filed for bankruptcy. She's stayed afloat by selling possessions and moving to a small town in Vermont.

TEXT OF STORY

Bill Radke: This time last year, we were all adjusting to a new economic reality. Need I remind you, it's been almost a year since the investment bank Lehman Brothers filed for bankruptcy, and it ushered in a new stage in the financial crisis.

Elizabeth Moran is still adapting. She was a vice president of talent management at Lehman.


ELIZABETH MORAN: I loved my job there. It was probably the best corporate job I ever had.

So, it was September 9th last year. They called us into a room, our management, and our whole group except for two people were let go. And at the time Lehman was very generous with severance. But then several days later Lehman went into bankruptcy and the bankruptcy court decided not to honor the severance.

I had moved out of my apartment in Manhattan in around February because the corporate doors weren't opening as easily or they were closing. And then my partner said. "Look, why don't you consider moving to Vermont?" He had moved up here. He said, "You know, it'll help you financially, take some of the pressure off." So, off I went to Vermont. And I live in a very small town, about 3,000 people. There's one restaurant -- thank god it's good -- in the town where I live. There's a couple of gas stations and not much more.

But it is absolutely beautiful, and I think some of my happiest times have been on my bike, just out in nature and just, I think, feeling a lot of gratitude to have that.

I had a couple thousand dollars in savings, so not a lot. And thank god for unemployment. I sold clothes. I've sold china. I've sold some furniture. Some of the career coaching work I'm doing now is bringing in some money but very sporadically. So I am trying to get myself in a more stable position.

If I had an opportunity to still work at Lehman Brothers today, I probably would be doing that. Having said that, I'm very excited about some of these other opportunities that I have to use my skills in career coaching and perhaps doing some work with returning veterans.

And I feel because of my experience it actually makes me a better coach and support person for other people.


Radke: That story was produced by Amy Scott.

Produced with help from Rafael Cohen.

About the author

Amy Scott is Marketplace’s education correspondent covering the K-12 and higher education beats, as well as general business and economic stories.

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