Washington Mutual Inc. will be laying off about 7% of the 3,100 employees that joined the company in its acquisition of American Savings Bank in Irvine, Calif.

Most of those layoffs will fall in American's administrative areas, a bank spokeswoman said. The cutbacks are about what analysts expected from the deal, which closed December 20.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.