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8,500 Firm Jobs Likely To Be Lost In The Mix

JPMorgan is starting to hug up to those Bear Stearns staff it wants, and is issuing offer letters to employees it wants to retain (usually after a series of interviews or meetings). Some Bear staff, however, hope that they don't actually get an offer, wanting to go on 'transition' instead, and picking up double pay and a lucrative exit package when they do leave.

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