Industry News

WaMu to let 3,150 workers go as mortgage losses mount

One in five employees in home loans group to be laid off
Published on Dec 10, 2007

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by CareyBot

Washington Mutual Inc. said Monday it is laying off 3,150 workers and issuing $2.5 billion in preferred stock as part of efforts to cut costs and raise capital in the face of mounting losses in mortgage lending. WaMu will said ...