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Will WaMu Renege on New Texas Jobs?




By www.EmploymentCrossing.com

www.EmploymentCrossing.com 

 

The state of Texas is demanding to know if Washington Mutual will comply with a contract to create thousands of jobs in the Lone Star State, now that the Seattle-based bank has been purchased by JPMorgan Chase.

 

Washington Mutual promised to add 4,200 financial services jobs in the state, in return for $15 million from the governor’s Texas Enterprise Fund.

 

To date, WaMu has complied with the hiring benchmarks specified in the deal.

 

WaMu was the biggest bank failure in American history when it was seized by federal regulators, then immediately acquired by the New York-based JPMorgan on September 25th.

 

"As we combine the two companies, we are evaluating staffing and real estate facilities across the country," said WaMu’s Missy Latham. She declined to discuss hiring plans for Texas.

 

WaMu has laid off employees in Texas in recent months, including hundreds in San Antonio connected to its mortgage loan business. But company officials said they added other Texas jobs.

 

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