JPMorgan Leads Hunt to Place Bear Workers

JP Morgan hopes to find jobs for 5,000 Bear Stearns employees cut when it acquired the brokerage in March, the Financial Times reports. CEO Jamie Dimon is sending letters to rivals and clients, and the company has contacted 1,800 firms urging them to consider former Bear workers. The approach could be used across Wall Street, which has pared 65,000 jobs—and counting—amid the credit crunch. (More Bear Stearns stories.)