It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
WaMu has approximately 42,000 employees. The planned cuts represent 20 percent of the company’s workforce.
Most of the cuts will be spread out across the nation, representing 4,200 jobs. Seattle, where WaMu is headquartered, will be losing 3,400 jobs. The San Francisco area will experience 1,600 layoffs at the company. WaMu said that the majority of cuts will come from the corporate level.
The company has 5,400 branches nationwide.
Payrolls plunged by 533,000 last month, the biggest loss since December 1974, after shrinking a revised 320,000 the prior month, the Labor Department said today in Washington. November’s losses exceeded all 73 forecasts in a Bloomberg News survey. The jobless rate rose to 6.7 percent, the highest level since 1993.
Payrolls are likely to keep sliding into next year as the collapse in credit and slump in spending hurt companies from General Motors Corp. to Citigroup Inc. and AT&T Inc. President- elect Barack Obama, confronting what he called a “crisis of historic proportions,” announced a plan last week to save or create 2.5 million jobs over two years.
Originally posted by marg6043
The unemployment figures were released today and they are looking dangerously high to the point that even Bernanke is worry about it.
U.S. Payrolls Decline by 533,000, Most Since 1974
Payrolls plunged by 533,000 last month, the biggest loss since December 1974, after shrinking a revised 320,000 the prior month, the Labor Department said today in Washington. November’s losses exceeded all 73 forecasts in a Bloomberg News survey. The jobless rate rose to 6.7 percent, the highest level since 1993. ...
Originally posted by Dbriefed
"NEW YORK (CNNMoney.com) -- The economy shed 533,000 jobs in November, according to a government report Friday - bringing the year's total job losses to 1.9 million...."