Job anxiety at Bear Stearns

If you work at Bear Stearns, the job anxiety must be killing you. JP Morgan Chase apparently is getting close to some decisions on who stays and who goes. The New York Times says that upwards of half of the 14,000 employees may get pink slipped. As a prelude to that decision--expected within two weeks--the firm already has told about half the grads who received job offers not to show up. Some hires will be kept on, in areas like prime brokerage, but in overlapping areas, new hires just aren't needed. At least they get to keep their signing bonuses. Some 2008 interns will be offered a special alternative program; all get to use the placement office. Small consolations.

For more:
- here's the New York Times article

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