JP Morgan May Lay-off 4,000 Employees

JP Morgan could cut up to 4,000 jobs as a result of their takeover of Bear Stearns and the continuing mess in the financial markets. About half of those jobs will be replaced by Bear Stearns employees. The other half could be let go as part of a broader cost-cutting measure to ensure adequate liquidity for the company to make it through the market turmoil. From Private Equity HUB: NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) could cut as many as 4,000 of its own employees worldwide as the bank prepares to take on staff from Bear Stearns Cos (BSC.N: Quote, Profile, Research) at the same time it deals with turmoil in financial markets, people familiar with the situation said on Tuesday. In addition to roughly 2,000 JPMorgan employees who will be repla