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marketmaven

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marketmaven

Re: Zeev Hed post# 194046

Friday, 01/16/2004 3:34:33 PM

Friday, January 16, 2004 3:34:33 PM

Post# of 704019
10,000 jobs "attritted" in JP Morgan-Banc One merger

While acknowledging the possibility that 10,000 of the combined
companies' 145,000 jobs could be eliminated after the merger, Harrison said that didn't mean that 10,000 employees necessarily would be fired. Harrison said, "Through attrition and through growth, which is what new companies should be all about, there shouldn't be 10,000 people lost; there could be 10,000 jobs lost." J.P. Morgan's CEO said that the disappearing jobs wouldn't be concentrated at Bank One but will "apply both ways."


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