Bear Stearns job picture starting to clear

According to Financial News Online, JP Morgan Chase  managers are sending letters to Bear Stearns employees informing staff whether they have a new job or not. The news service says that more than 70 percent of Bear employees (about 14,000) will be laid off, which if anything is slightly better than what people originally thought. The interesting twist here is that up to 1,500 JP Morgan Chase employees could lose their jobs. Laid off Bear employees will reportedly receive nine months pay and a cash payout equal to one-third of their bonus last year. So for employees, the end game is finally at hand. Most have been busy the last month or so exploring alternatives. Hopefully, this will prove to be the best thing to ever happen--a blessing in disguise.  

For more:
- here's the Financial News Online article

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