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Friday Jul 4 2008
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JPMorgan seeks jobs for Bear staff
JPMorgan Chase has launched an unprecedented campaign to find jobs for more than 5,000 people who are being sacked after its takeover of Bear Stearns. Jamie Dimon, JPMorgan’s chairman and chief executive, has personally written to more than 30 clients, rivals and vendors to ask them to consider former Bear staff and is planning to send about 100 such letters. JPMorgan, which bought Bear for a bargain price in March, has also asked more than 1,800 companies for a list of their vacancies and urged them to hire the employees to be made redundant after the takeover.
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