Chase Announces WaMu Layoffs
Seattle, WA December 1, 2008 2:14 p.m.
E-mail
DiscussJP Morgan Chase announced Monday it will lay off 3400 Washington Mutual employees in Seattle by the end of next year.
About 1500 workers will be let go by January. Spokesman Tom Kelly says the remainder will stay on for a few more months to help with the company’s transition.
Tom Kelly: “The transition roles will end at different times during 2009 depending on their role. So for example, as we do systems conversions, we’ll need the technology people through those but once that conversion is done, their role will be completed.”
Kelly says workers in the transition team will receive double pay during that period.
Nationwide, JP Morgan Chase will layoff more than 9000 people.
JP Morgan Chase bought Seattle-based WaMu after the bank collapsed in late September.
The next big announcement is expected in mid-2009 -- when the WaMu brand will be officially phased out.
© 2008 KUOW
del.icio.us
digg
newsvinePost a Comment
You must be logged in to post.
Related articles
- Horizon Offers Discounted Flight To Stranded Travelers
- Flooding, Slides Shut Down Commerce In Washington State
- Merkley And Schrader Receive Committee Assignments
Related topics
Recent Comments
- Hitheringwaters on Will WiMAX Prevail Where WiFi Failed?
- Andrea on People Fine Tuning Social Networks To Meet Their Needs
- Jeff on Hood River Pear Growers Try Different Ways To Market
