For the 4,500 former Lehman Brothers employees in the City, the week has begun very differently to how they expected. Many will have already packed up their belongings and left the office for the last time, with little idea of where to go next. But there are options available to them, say sources.

Staff were still clearing their desks this afternoon at Lehman Brothers' office in Canary Wharf after the US investment bank declared bankruptcy last night. But little clarity has been given on employees' options.