Washington Mutual to cut 2,500 jobs as Housing Market Cools

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00003607-washington-mutual-to-cut-2500-jobs-as-hou/

Responding to the cooling housing market, Washington Mutual Inc., the largest U.S. savings and loan, said on Wednesday that it was laying off 2,500 support employees in its mortgage unit.

The Seattle, Washington-based company said it was also reducing the number of mortgage processing offices to 16 from 26 and sending some of the work to “lower cost domestic and offshore locations.”

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