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Imagine you are a Kidder employee at 10 Hanover Square sweating out the pending merger with PaineWebber. You don't know if you will get a job offer with the newly merged firm, you don't know if you can find a job outside of PaineWebber given the current Wall Street slump, and you probably don't even know what happens to your saved-up vacation time.
Kidder tried to answer some of the questions last week. All employees received an 11-page question-and-answer memo that tells everything you wanted to know about the merger but were afraid to ask. The unusual document offers a glimpse into the fine points that need to be hashed out in a merger of two of Wall Street's largest firms.
The memo also conveys a sense of the human anxiety involved in the process. The memo covers everything from whether you can expect a job to what you should do when a headhunter calls.
"We continue to believe the new relationship with PaineWebber will create a stronger organization with a great future," wrote Kidder's top executives Denis Nayden and Dennis Dammerman. "We also realize that many of...