WaMu to cut 2,500 jobs in more belt-tightening

Washington Mutual announced Wednesday it will eliminate 2,500 jobs, part of a continuing effort to shave costs and become more efficient.

The latest cuts come in WaMu's home-loan business, which will close 10 of the 26 offices nationwide that handle administrative support. No offices in Washington are being closed, although about 20 people here will lose their jobs.

Two of the remaining 16 offices are in Washington — Seattle and Bellevue. They will pick up some of the administrative work that had been done in California and Florida, and are likely to add jobs over time, said spokeswoman Darcy Donahoe-Wilmot.

WaMu executives want to make the Seattle-based thrift more efficient by eliminating redundant offices it gained through acquisitions, and by moving jobs to lower-cost locations in the U.S. and other countries.

WaMu said last month it plans to shift about 4,400 jobs to foreign countries over the next couple years. It also notified about 1,000 call-center workers in Chatsworth, Calif., last month that their jobs are moving to San Antonio, Texas, and Costa Rica.

Of the 10 home-loan support offices being closed, three are in California, two are in Massachusetts, and there is one closure each in Florida, Michigan, Oregon, Pennsylvania and South Carolina.

Most of the work is clerical, but some managers and technical workers also will lose their jobs, Donahoe-Wilmot said.

The company does not disclose how many work in its home-loan unit. Altogether it has more than 60,000 employees, including more than 7,700 in King County.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com