JPMorgan Chase & Co., which purchased most of Washington Mutual's (WaMu) assets on Sept. 25, will slash 9,200 jobs at the Seattle-based bank, the Associated Press reports.
JPMorgan says 4,000 of those positions will be cut by the end of January, and 5,200 employees will lose their jobs by the end of 2009.
Washington Mutual had between 41,500 and 42,000 employees nationwide when JPMorgan took over the bank, the AP adds.
SOURCE: Associated Press