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New York

Half of Bear Stearns workers could be laid off

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Up to half of Bear Stearns’ 14,000 employees could be laid off as JPMorgan Chase, the firm’s new owner, could start cutting workers today. JPMorgan said it hasn’t determined the number of job cuts yet. New York City’s real estate market has been rattled by the collapse of Bear Stearns. As The Real Deal reports in this month’s issue, brokers have seen spooked buyers pull out of deals, but say a low inventory could help hold up the market.