JP Morgan is to axe more than a fifth of the workforce, about 9,200 jobs, at the former Washington Mutual. ┬á Nearly 4,000 of the cuts will be made by the end of January, and the remaining 5,200 will be eliminated by the end of 2009. The lingering 5,200 workers will receive double their annual salaries payable in a lump sum when their employment ends. ┬á While the job cuts at Washington Mutual were expected, the amount of additional cuts will put more pressure on AmericaÔÇÖs quickly rising unemployment rate.