December 10, 2007
Woah WaMu!!
As predicted, Seattle’s hometown big bank Washington Mutual announced closures, job cuts and slashed dividends today:
- Cut 3,150 jobs, mostly in its struggling home loans business;
- Shutter nearly two-thirds of its home-loan stores;
- Close its 5-year-old mortgage-backed securities brokerage;
- Slash its quarterly dividend to 15 cents per share, from 56 cents.
