American Savings to Cut 7% of Work Force

In the first major organizational changes announced since its $1.7-billion acquisition of American Savings Bank in Irvine, Washington Mutual Inc. said about 220 administrative employees--about 7% of the thrift’s total work force--will be laid off. A round of top-level executive changes were also announced, including the resignation of American Savings President Robert T. Barnum. Chairman and Chief Executive Mario J. Antoci retired from the Irvine-based savings and loan Dec. 20, the day Washington Mutual’s acquisition became official. A Washington Mutual spokesman said the layoffs will occur in stages this year as the transition to the Seattle parent company’s computerized accounts and other information systems is completed. No branch or loan office closings or mass layoffs throughout the branch network are expected.