Washington Mutual Eliminating 900 Jobs

Washington Mutual Inc. said it would cut 900 jobs as part of a bid to match capacity with “current and anticipated market conditions.”

Spokeswoman Olivia Riley said 350 of the job cuts would come in its home loan group as it moves to outsource residential appraisals. The remainder of the jobs were “mostly back office support” positions in its retail banking group, she said.

Like its rivals in the home-lending business, Washington Mutual is dealing with a drop in activity as interest rates rise and the housing market cools.