Up to 19,000 employees of Washington Mutual face being laid off this weekend as JPMorgan Chase turns up the synergy on its recent acquisition.
Monday, 1 December 2008
I love the following description from Forbes via Mish, in "19,000 WaMu Employees will be Synergised Out of a Job":
Mish proceeds to demolish this newly invented weasel word for firing people. Remember the good old days when we only had downsizing?
Also in the news, Jose Manuel Barroso puts his foot in it with an interview surely calculated to do maximum possible damage to the cause he is notionally espousing. What was he thinking?