Another bank merger, employee cuts to be announced?

The initial story is the glorious news of BNP Paribas purchasing the American bank, Commercial Federal for 1.2B Euros. I'll try hard to put aside my own bias against BNP who managed to lose my money on a few occasions and brutalized me with various fees and charges and offered customer service that could only be matched in a communist country (oops! I failed to put my bias aside) but how long is it going to be before Commercial Federal starts dumping staff like every other bank who merges and buys?

So who exactly is profiting here? Surely not the average customer and it's not going to be the employees as we can tell from history. Oh well, more to come in this sector so keep your CV updated if you are working in a bank.