Bye Bye Banks and Wall Street

[Alex]

Since some here know about it, I figured I'd mention my fate in the "bye bye banks" environment.

The official announcements to all WaMu employees were made earlier this week (as you probably saw from news stories).

Everybody was in one of three groups:

1. Good bye! This group was given 60 days notice of termination and many were told this essentially meant they could stop coming to work immediately. Standard severance package paid at end of 60 days.

2. Transitional, or Good bye soon! This group is viewed as important to migrating WaMu functions to Chase. Most were given a termination date of June 30. Pretty good incentive package paid out at end if you don't leave, plus standard severance.

3. Hello, or We Love You Long Time! This group was told that they have a continuing position with JP Morgan Chase.


I'm not entirely sure why, but I am somehow in that third bucket. Within my immediate group of 30 or so people I was one of two. I don't know if this is good because they don't seem to have decided yet what exactly my job will be going forward so I don't know if, long term, I'll even want it. But at least it is stability and I'll have a job to hold while looking for work if I don't like it.