So, does my friend Colleen, employee of WaMu, still have a job?

[Missy Vixen]

I'm as against the bailout as anyone else here, but tonight, I'm thinking about one of my girlfriends. If it wasn't so late, I'd call her.

Colleen works for a WaMu department that will remain nameless. (She's not in mortgages, but that's all I'm saying.) We have held our breath for her over the last few months as conditions have gotten worse and worse, and she's begun looking for something else. Evidently, the "something else" hasn't come fast enough.

When we're all railing against the fat cats, let's light a candle or two for those who are far down the totem pole, didn't cause what happened, and will spend a sleepless night tonight wondering if they still have a job.

Julie

[Wheezy]

1. I have a friend at WaMu too. Would love to know

what happens now for him...

[Critters2]

2. It sounds like most jobs are safe. JP Morgan has bought WaMu.

Some things will need to be worked out, but it's probably the execs who'll go. Those in more "cog in the machine" kinds of jobs will probably fare better.

Nonetheless, I wish your friend all the best!

[lapfog_1]

3. She should show up for work as usual.

She may be one of the lucky ones who will staff the new branches of JP Morgan / Chase.

Or not. (keep your fingers crossed for her)

But likely she will have a few days before they inform her of the decision.

[Missy Vixen]

9. lapfog, I just mailed her

I'm wondering if her best bud and I need to take her to a bar tomorrow night, and introduce her to our good friend Mr. Tequila.

I'm crossing my fingers for all the little people caught in this situation. I'm also crossing my fingers for their money.

Julie

[lapfog_1]

12. I'm sure a drink or two is in order.

try not to dwell on things after she expresses her fears and concerns.

She may even have good news tomorrow.

does she work the retail side of the business or back office? Retail is far more likely to be retained than some back office. But even back office people will be needed for a while as accounts and software systems are transitioned to the new (Chase) standards.

Take her mind off things. Encourage her to dust off the resume and keep a positive attitude.

[Missy Vixen]

16. She works in the office

I'm thinking her job classification may save her, but she's already looking.

God, what a mess.

Julie

[Eric J in MN]

4. Does she work in a retail bank or in an office building?

People in the retail banks will probably keep their jobs, but people in the office buildings may lose their jobs.

[crim son]

5. I have a friend w/Fannie Mae.

She's probably okay. It's depressing to think about the "little people" who are affected by this situation.

[RB TexLa]

6. There will be processing jobs lost but the retail side shouldn't see much

I mean if you are on the retail side of WM and can see a Chase branch out of the front door then yes your job might be removed. But JPM doesn't have a big retail presence where WM does, which is the reason they bought it.

[SoCalDem]

7. depends on JP Morgan/Chase

They may keep her branch..if so..she might keep her job..at least for a while..

co-mingling usually means the lesser entity gets the shaft .... she had better start looking for another job..just in case

[raouldukelives]

8. I have a few pals at Wamu

Benjamin, Ulysses, Abe & George. Hope they are ok!

[KitchenWitch]

11. You are good if you have 100,000 Georges or fewer

[Fleshdancer]

13. Well as long as you have less than 100,000 pals at WaMu...

then you'll be fine. ;)

[Fleshdancer]

10. hard to say....

my guess is that she'll have a job when she wakes up, but I'm not confident she'll still have it a month from now. :(

At this point, it's up to JP Morgan.

[knowbody0]

14. during the transition,

she may even get lots of overtime. she should prepare for the worst by being very frugal

[Neshanic]

15. For about six months.