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WaMu to Layoff Employees, Won't Release Numbers

By December 3, 2008

When JP Morgan Chase bought all of Washington Mutual's assets earlier this year, it was expected that some jobs would be cut. Though most of those jobs were expected to be cut on the West coast, cuts were still going to be all around the country.

It was announced today that several workers here in S.A. were given their pink slips. Nobody with the company will give numbers, and employees being shown the door won't speak due to fear of losing their severance packages. A few spoke off the record, but couldn't reveal much.

This is a disappointment not just for the workers but for the city, as the Stone Oak complex was a big deal when it was first announced, a real economic shot in the arm. The silver lining though is that officials did say that job creation beginning in early 2009 would exceed the number of layoffs. Is this a way to sugarcoat the layoffs, or is it the truth? Only time will tell.


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