Chase to rename WaMu branches
Portland Business Journal - by Kirsten Grind
JPMorgan Chase & Co. will lay off 9,200 WaMu employees nationally, out of the company’s total work force of about 42,000.
Of those workers, 4,000 will leave within the next 60 days and the remaining employees will be placed on JPMorgan’s transition team.
The bank plans to keep all its Washington Mutual branches in Oregon and Southwest Washington, rebranding them with the Chase name in 2009.
The bank is not planning layoffs in Oregon or Southwest Washington.
"We will need all the employees in those branches to take care of our customers," said Chase spokesman Tom Kelly in an e-mail.
The situation is much different in Seattle, where JPMorgan Chase will lay off 3,400 Washington Mutual employees, about 81 percent of the bank’s local work force.
Of those laid-off WaMu employees, 1,500 will leave the bank in the next 60 days while the remaining 1,900 will be placed on JPMorgan’s transition team.
JPMorgan Chase & Co. (NYSE: JPM) is keeping about 800 Seattle employees.
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