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To: Doughboy who wrote (14900)11/7/2003 7:00:31 AM
From: biometricgngboyRespond to of 306849
 
Washington Mutual cuts 177 SR jobs as rates rise

More layoffs possible due to end of refinancing boom

November 7, 2003

by MARY FRICKER
PRESS DEMOCRAT

pressdemocrat.com

excerpt:

"In the most visible sign yet of a shakeout in the mortgage industry that helped fuel a strong housing market and consumer spending, Washington Mutual said Thursday it will cut 177 jobs in Santa Rosa within two months because of a sharp decline in loan demand.

The cuts represent almost half of the company's mortgage-related jobs in Sonoma County, and officials said further reductions are possible in coming months."