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Washington Mutual closes local office and 190 others
Saturday, December 29, 2007 | No comments posted.
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The ongoing mortgage crisis led Washington Mutual to close its home loan center in Coos Bay earlier this month.
As part of a restructuring of the company’s struggling mortgage business, the Seattle-based company announced plans Dec. 10 to close approximately 190 home loan centers across the country, including the center located at 990 S. Second St.
“(The closure) is part of a series of actions that will help the company address unprecedented challenges in the mortgage market,” said Washington Mutual spokeswoman Darcy Wilmot.
Two employees were affected by the closure, Wilmot said. Washington Mutual will provide the employees with job placement assistance and they are eligible to move to other positions within the company, she added.
But moving into the other positions in the company’s home loans division might be a little tough. As part of the reduction of its home loan offices, the company will cut about 2,600 jobs, a press release said. In addition, the company will eliminate all subprime lending and lay off 550 corporate and other support positions.
As part of a restructuring of the company’s struggling mortgage business, the Seattle-based company announced plans Dec. 10 to close approximately 190 home loan centers across the country, including the center located at 990 S. Second St.
“(The closure) is part of a series of actions that will help the company address unprecedented challenges in the mortgage market,” said Washington Mutual spokeswoman Darcy Wilmot.
Two employees were affected by the closure, Wilmot said. Washington Mutual will provide the employees with job placement assistance and they are eligible to move to other positions within the company, she added.
But moving into the other positions in the company’s home loans division might be a little tough. As part of the reduction of its home loan offices, the company will cut about 2,600 jobs, a press release said. In addition, the company will eliminate all subprime lending and lay off 550 corporate and other support positions.
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