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When JPMorgan acquired Washington Mutual in September, employees at WaMu probably understood that some of them would be cut from the roster. The good news is not all of the positions will be eliminated immediately; around 4,000 jobs will be eliminated by the end of January and the remaining 5,200 will hold their jobs until the end of the “transition period” (around the end of 2009).

When JPMorgan took over Washington Mutual, the largest bank that failed during the credit crunch, WaMu had around 42,000 employees.

This announcement isn’t really a surprise because JPMorgan couldn’t possibly have a use for every single employee brought over from WaMu. I’m honestly surprised that more employees weren’t cut. Then again, this probably won’t be the last announcement.

Jeremy

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