Monday, December 01, 2008


The pink slips arrive.

NEW YORK ( — JPMorgan Chase said Monday it plans to lay off 9,200 employees at Washington Mutual, the failed savings and loan that the New York City-based banking giant bought in September.


JPMorgan will slash 3,400 WaMu employees in Seattle, Washington, according to JPMorgan Chase spokeswoman Christine Holevas. That comes on top of the 1,600 job cuts in Pleasanton and San Francisco, California, which the company announced last week. The remaining 4,200 cuts will come from Washington Mutual offices nationwide, Holevas said. But she added that most branch workers will keep their jobs: Most of the layoffs will be at the corporate level.