Oregon Public Broadcasting

JP Morgan Chase announced Monday it will lay off 3400 Washington Mutual employees in Seattle by the end of next year.

About 1500 workers will be let go by January.  Spokesman Tom Kelly says the remainder will stay on for a few more months to help with the company’s transition.

Tom Kelly: “The transition roles will end at different times during 2009 depending on their role.  So for example, as we do systems conversions, we’ll need the technology people through those but once that conversion is done, their role will be completed.”

Kelly says workers in the transition team will receive double pay during that period.

Nationwide, JP Morgan Chase will layoff more than 9000 people. 

JP Morgan Chase bought Seattle-based WaMu after the bank collapsed in late September. 

The next big announcement is expected in mid-2009 -- when the WaMu brand will be officially phased out.