Official WaMu Layoff Count Announced

Photo by The Tim The official layoff count for WaMu was made public today. According to various news sources, JPMorgan Chase will be cutting 3,400 jobs in Seattle. JPMorgan Chase is laying off 3,400 Washington Mutual employees in Seattle, according to spokesman Tom Kelly. That’s more than 80 percent of the 4,300 people it employs […]

Seattle Times: JPM to Cut ~70% of WaMu HQ Employees

Photo by Flickr user S x 2 According to today’s Seattle Times, JPMorgan Chase plans to cut around 70% of WaMu’s Seattle-area employees. JPMorgan is handing out layoff notices now and is expected to finish making decisions about all of WaMu’s 43,200 employees nationwide by Dec. 1. As many as 3,000 of WaMu’s 4,200 workers […]

“Out here in Seattle, we were living in a bubble.”

These articles are a bit off-topic from the usual news about residential real estate, but I thought they were at least worth a brief mention. New York Times: In Seattle, Office Vacancy Rate Is Rising Fast Not long ago, Seattle looked invincible, even as an economic downturn was starting to plague the rest of the […]

Local economic news looking like national headlines

There were a couple of stories in the Seattle Times over the weekend pertaining to the health of the local economy.  The first was an article on the commercial real estate market, highlighting a forecast for falling rents. Commercial real-estate brokers James Keating and Sean Barnes have one word of advice for their clients looking […]