SEATTLE (AP) -- Washington Mutual is closing 53 commercial banking branches in 14 states and laying off 850 people.
That brings the number of layoffs the Seattle financial company has announced in the past week to nearly 34-hundred.
The company also says its Commercial Group would no longer finance professional home builders. Small businesses -- with less than five (m) million dollars in annual sales -- can continue to use Washington Mutual's 18-hundred retail bank branches.
The commercial banking branches being closed are in Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Nevada, New Jersey, New York, Oregon, Texas, Utah and Washington.
(Copyright 2004 by The Associated Press. All Rights Reserved.)