New York - The US fourth-largest investment bank Lehman Brothers announced Wednesday in New York a preliminary third-quarter loss of a 3.9 billion dollars, in a continuation of the company's financial woes.

The loss compares to an 877 million-dollar profit in the same quarter in 2007.

The company also announced a radical restructuring plan that would include drastic reduction of its annual dividend payment and the selling of its majority stake in its investment management business in order to acquire billions of urgently-needed capital.

Job losses are also on the table, it said.

Lehman shares on Tuesday reached a near 10-year low after talks to sell a stake to Korea Development Bank collapsed, helping to push down financial stocks in the US market. (dpa)