KPLU Local News
(2008-04-09)
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SEATTLE, WA
(KPLU) -
Seattle-based Washington Mutual has received a seven billion-dollar ($7B) cash infusion from private investors. At the same time, the company has announced it is closing all its free-standing loan offices and laying off three-thousand people nationwide.
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More from KPLU business and labor reporter Bellamy Pailthorp. (1:02)
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WaMu's shares spiked nearly 30% on rumors of the TPG offer yesterday (Monday.) But they lost about ten percent of that gain today (Tuesday.) Along with the news of the cash-infusion and the layoffs, WaMu announced it is again slashing its dividend - to 1 cent from 15 cents per share. And the company says it will no longer purchase mortgages from brokers. © Copyright 2012, KPLU
