Its fairly simple to Compress image in wordpress. Though its not relevant to weDevs or any of its products, but there is no harm to answer it.
If you have a VPS, you can easily install jpegoptim for JP[E]G image .
But for a Quicker solution, You can use Wp Smush.it . Its a Awesome service by Yahoo. You can compress all of your image losslessly in a Bulk mode. But only disadvantage is, you have to run it manually after a Couple of Days. But if you have the coding knowledge, you can schedule it through cron.
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