WAMU to close Boca operation

Published June 24th, 2008

By John Johnston
Managing Editor

Washington Mutual, the Seattle based savings and loan, has more than 2,000 locations nationwide, and 128 locations in South Florida alone.

WAMU said in 2005 that in addition to more locations in Florida, it would open 40 branches in California, 30 in New York and 20 each in Texas and Illinois. Ten other branches were planned for five other states.

Fast-forward three years – and following billions in real estate foreclosures nationwide – and a loss by WAMU itself of more than $1 billion in the first quarter, the firm became the latest to announce employee layoffs, including the 175 employees currently working on Yamato Road.

The Yamato Road retail operations work will be transferred to San Antonio, TX, WAMU said, and the Boca employees will be offered transfer options.  WAMU spokesman Shane Winn told the Boca Raton News that the employment ending date “would vary” by employee, but that all employees in Boca Raton would be laid off by the end of this calendar year.