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On Wall Street, layoffs mean you get $50,000 for never showing up

Nicholas Carlson ยท 04/04/08 09:00AM

Google offered laid-off DoubleClick employees two options: take two months pay and find work at a competitor or take four months pay and join another industry. Some lucky DoubleClick employees were offered contract positions, which means they have to head to the elevator and buy lunch on the streets every day just like any other non-Googler. Meanwhile, further downtown on Wall Street, MBA grads who recently won jobs at the crashed-and-burned Bear Stearns won't get them. The company has rescinded its offers, reports SAI. But JPMorgan Chase โ€” the company that bailed out Bear Stearns โ€” will still pay the no-longer-needed new hires their promised $50,000 to $60,000 relocation bonuses and offer them career services.