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More Stock Traders Pound the Pavement

Traders Magazine, March 2001

Sanford Wexler

In a sign of the shaky stock market, a trading firm that weathered the 1987 market crash without firing anyone has now announced plans to reduce staff.

Bear Stearns is handing out pink slips to about 400 employees, or about four percent of its staff, as it tries to ride out the current storm. A "small number" of traders will be among the group, said a Bear spokesman.

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