Risk.net

JP Morgan launches placement programme for Bear Stearns staff

JP Morgan has launched a programme to place thousands of the Bear Stearns employees that are to be made redundant after its takeover of the rival bank.

    • Gail Mwamba
  • LinkedIn  
  • Save this article
  • Print this page  

The programme, dubbed ‘Talent Network’, created specifically for the Bear Stearns employees, has so far identified more than 1,500 redeployment job opportunities through vacant positions within the financial industry.

The bank has also contacted more than 1,000 companies within the industry, requesting for their vacancy lists, and written to about 30 clients, rivals and vendors, encouraging them to take on the displaced staff.

JP Morgan, which took over its rival in March, inherited 14,000 employees, the bulk of which it is struggling to accommodate. JP Morgan has so far identified positions for only about 40% of the staff, leaving a further 8,400 employees unsure of their fate.

The bank's business units are 75% complete in making people selection decisions, and have so far announced leadership teams for its top three tiers.

See also: JP Morgan buys Bear Stearns after receiving Fed guarantee
JP Morgan announces new heads post-merger

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net

More on People