Washington Mutual Inc.

Publication date: 01/07/2008

After cutting 1,000 jobs and dismantling much of its subprime mortgage operation, Seattle-based WaMu will now get out of the business entirely. The company said recently it will close about 190 of its 336 home loan centers and sales offices, shut down nine call centers and eliminate 2,600 home loan workers and 550 corporate and support jobs. The company also said it will shutter WaMu Capital Corp. and rely on third party broker-dealers to sell mortgage-backed securities.