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Bear Stearns to Cut 310 Jobs, Merge Encore Credit into Mortgage Ops

Oct 03, 2007By

Bear Stearns said today it will merge Bear Stearns Residential Mortgage and Encore Credit into a single unit under the name Bear Stearns Residential Mortgage Corporation (Bear Res). The move will cost 310 employees their jobs, although the investment bank did not specify where the cuts will be located.