JPMorgan Chase to cut 3,400 WaMu jobs in Seattle

December 1, 2008 by · Leave a Comment
Filed under: Industry News 

Well this is a lost for Seattle, I personally have a couple friends that I am trying to reach to see what their fate is. You know what they say, “s&%t closest too home, hits you the hardest”.

JPMorgan Chase said it will eliminate 3,400 jobs at Washington Mutual’s banking operations in Seattle.

Of that total, 1,500 jobs are being eliminated now, with those employees to be gone by the end of January. Another 1,900 employees will stay on in temporary, transition jobs that will disappear next year.

Washington Mutual had 4,300 jobs in the Seattle area at the time federal regulators took over the bank and sold most of its operations to New York-based JPMorgan Chase.

Spokesman Tom Kelly said JPMorgan Chase does not plan to close any WaMu branches in the state.

Nationally JPMorgan Chase is cutting 9,200 jobs, including 4,000 jobs now and 5,200 transition positions. WaMu had 43,000 employees nationally.

Source: Seattle PI

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