Bear Stearns (BSC) is cutting another 650 jobs, or 4% of its workforce; since August, it has cut 10% of its 15,000 employees. Bear is blaming the cuts on the mortgage blowup, and it is punishing the fixed income group by focusing the cuts there.
Want a silver lining? It may be slightly easier to hire tech staff in the near future: The AP says cuts are likely to come from the operations side, including IT.
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