WaMu job losses in Seattle could total thousands
Posted: Wed Nov 19, 2008 5:42 amI think the downtown condo market is about to take a gigantic nosedive!
MAYDAY MAYDAY!
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WaMu job losses in Seattle could total thousands
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Posted: Wed Nov 19, 2008 5:42 amRe: WaMu job losses in Seattle could total thousands
Posted: Wed Nov 19, 2008 7:28 amRe: WaMu job losses in Seattle could total thousands
Posted: Wed Nov 19, 2008 3:00 pmRe: WaMu job losses in Seattle could total thousands
Posted: Sat Nov 29, 2008 11:35 pmMore news. . Bulk of the cuts to be in Seattle due to overlap (so the speculation was probably true). Employees will know what their fate is on Monday.
Re: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 10:35 amRe: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 10:51 amRe: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 10:56 amDid WaMu have any contract labor in the Seattle offices? Janitors, auditors, etc...
I don't know how you compare against Boeing. 30,000 jobs is much higher, but those losses were spread throughout the area rather than focused entirely in the deep downtown. The people laid off by Boeing mostly stayed in the area, the highly desirable WaMu employees will probably move to cities that still have banking centers. Also, some number of those Boeing job losses came back in 2004-2006 as they got their act together again. Boeing was still in business, still an ogliopoly, and still producing a product in high demand. WaMu is out of business, operated in a commodity market, and grew their business around a product that now has no demand.
I don't know how you compare against Boeing. 30,000 jobs is much higher, but those losses were spread throughout the area rather than focused entirely in the deep downtown. The people laid off by Boeing mostly stayed in the area, the highly desirable WaMu employees will probably move to cities that still have banking centers. Also, some number of those Boeing job losses came back in 2004-2006 as they got their act together again. Boeing was still in business, still an ogliopoly, and still producing a product in high demand. WaMu is out of business, operated in a commodity market, and grew their business around a product that now has no demand.
Re: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 12:47 pmThe 19,000 number comes straight from the article (and other articles on the same subject). I don't know where they got the number, nor how many of that number are in Seattle/King County/Puget Sound. I guess we'll know for sure on Monday. speculates that around 3000 out of 4200 Seattle employees will be cut. Maybe when the original article said "bulk" they meant that a plurality of the cuts will happen in Seattle. Also note that the original article said "up to" 19000.
Re: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 1:05 pmRe: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 4:36 pmRe: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 5:01 pmRe: WaMu job losses in Seattle could total thousands
Posted: Sun Nov 30, 2008 9:19 pmAlso different between this downturn and the last is that there is no inflating housing bubble to soften the blow.
Re: WaMu job losses in Seattle could total thousands
Posted: Mon Dec 01, 2008 11:31 am