Originally Posted by
GrumpyDiver
While this is a common perception, it is not necessarily a correct one.
The compression occurs the first time the file is saved, thereafter (unless you change something like the amount of compression you want by degrading image quality further), there seems to be no additional data loss and yes I have tried this. Logically, this makes sense, as once you have compressed a file (given the specific compression parameters), there is no opportunity for file size gains (this is why the files are compressed, of course).
The largest benefits are in going from a 12-bit or 14-bit raw file down to an 8-bit JPEG file but once a file is down to 8-bits, the potential for additional compression savings is (virtually) non-existent.