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Re: And the winner of the bank race to the bottom? WaMu
And here comes the Main Street fallout...
Originally posted by GRG55
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WaMu employees' pensions fate unclear; many to lose jobs
Washington Mutual employees will not find out for another two months whether they have a job and the fate of their pensions remains unclear, according to a JPMorgan Chase executive who spoke to employees from both companies in a frank, hourlong conference call Thursday...
...Scharf, who spent a chunk of the conference call answering blunt questions from employees, said employees’ pension plans are part of WaMu’s business that’s held up in Chapter 11 bankruptcy, so it’s not JPMorgan’s responsibility to honor them...
Washington Mutual employees will not find out for another two months whether they have a job and the fate of their pensions remains unclear, according to a JPMorgan Chase executive who spoke to employees from both companies in a frank, hourlong conference call Thursday...
...Scharf, who spent a chunk of the conference call answering blunt questions from employees, said employees’ pension plans are part of WaMu’s business that’s held up in Chapter 11 bankruptcy, so it’s not JPMorgan’s responsibility to honor them...
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