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Mortgage unit faces cuts

Friday, July 23, 2004 | 9:35 a.m.

Seattle-based Washington Mutual on Thursday announced that it would eliminate 2,500 jobs in its mortgage operations by the end of the year. The announcement comes weeks after the company cut earnings estimates based on weak loan demand.

The company said it would close offices and cut jobs in 17 markets where it has loan offices but no retail banking presence. Nevada was not listed as a market being cut. In the Las Vegas area, Washington Mutual has 27 retail banking branches and three home loan offices.

Officials with Washington Mutual could not be reached for comment.

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