WaMu to Cut 1,600 Bay Area Jobs

It was announced today that Washington Mutual , which was shoved under the thumb of federal regulators and sold to JPMorgan Chase in September, will close its Pleasanton campus and eliminate hundreds of San Francisco positions. In total, the former banking giant will eliminate 1,600 Bay Area jobs. The company plans to "cut 400 employees at its operations center at 201 Mission St. in San Francisco early next year," which would leave a paltry 60 workers there until the site shuts down permanently in late 2009. One employee at the SF office said, "It's a shock, but at least it's good and bad. At least we're part of a transition team until next year. It's better than being laid off right now." This comes on the heels of, well, scores of other layoffs hitting the Bay Area this month. (SFGate)