WaMu's Future in 2006?
Melissa Allison reports for the Seattle Times on Washington Mutual's likelihood of being acquired by another bank (in particular, by JP Morgan Chase), in 2006.
More than 7,700 people work for WaMu in King County, and many would face layoffs if there were a buyout. It is unlikely the 78 branches in King County would be touched, though, because JPMorgan has no branches here.Headquarters jobs are another matter. They often are hit hardest in a merger. JPMorgan slashed 2,000 jobs in Chicago after last year's acquisition of Bank One, that city's biggest bank. About 15,000 people still work for the company there.
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