The savings and loan's move means about 1,000 jobs will be cut. Washington Mutual Inc., the largest U.S. savings and loan, said Wednesday that it would shutter one division that bought mortgages from other home lenders and another that financed mortgage companies.

WaMu to cut 1,000 jobs (CNN Money)
Bank says terminations will come from subprime lending unit, but will expand section dealing with regular borrowers.