Seattle Times (06/20/08); DeSilver, Drew
Washington Mutual plans to lay off workers in its mortgage business as part of a new round of job cuts that will impact 1,200 employees across the board. The Seattle-based company has already eliminated more than 3,500 jobs this year. Washington Mutual was heavily involved in subprime loans, adjustable-rate loans and home equity loans; and it has struggled more than most mortgage lenders during the housing slump and credit crisis.
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