LayoffBlog.com

February 26, 2009

JP Morgan to trim 12,000 from WaMu headcount

According to MarketWatch: “The head of J.P. Morgan Chase‘s (JPM) retail banking operations said Thursday that the firm plans to trim 12,000 jobs from the headcount of Washington Mutual employees.”

Update (2-26-2009): Updated California WARN listing for J.P. Morgan (PDF document), Jul – Dec 2009 layoffs schedule

Update 2 (2-27-2009): JPMorgan Chase & Co. told investors Thursday that it will cut 14,000 jobs, up from a previously announced 9,200 in December, according to Dayton Business Journal

January 5, 2009

The biggest CEO firings of 2008

The biggest names to be shown the door as a result of the economic crisis:

  • Martin Sullivan of American International Group (let go in June)
  • Kerry Killinger at Washington Mutual (September)
  • Richard Fuld of Lehman Brothers (leaving next month)

“Their distinguished company includes James Cayne of the now-deceased Bear Stearns and Richard Syron and Daniel Mudd, the former CEOs of the mortgage buyers Freddie Mac and Fannie Mae.”,  according to Forbes and MSNBC

“There are two kinds of CEO firings,” says Noel Tichy, a professor at the Ross School of Business at the University of Michigan. “There are the crooks and there are the incompetents.” This year the biggest departing names all fell into a gray area in between.”

Source: Forbes, MSNBC

December 23, 2008

WaMu to lay off 3,400 in January

According to WARN filing with WA Employment Security Department, Washington Mutual is scheduled to lay off 3,400 workers in Seattle starting 1/31/2009

Other notable layoffs include Kenworth Trucking (430 employees, starting 1/16/09) and Hunter Douglas (166 employees, starting 2/2/09). American Airlines to lay off 1.

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