The parent company of BMO Harris Bank is trimming about 4 percent of its workforce company-wide in a restructuring prompted partly by declining branch transactions.
The Bank of Montreal employs about 251 employees across 37 branches in the Indianapolis metropolitan area, according to an IBJ survey of local banks conducted in early May. If the job cuts were applied proportionally among the bank’s roughly 46,000 employees, about 10 people would lose their jobs locally.
A BMO spokesman declined to comment on where the layoffs would take place.
The bank announced its restructuring when it reported second-quarter earnings last week, but Reuters, citing an internal bank memo to employees, pegged the figure at 4 percent. That’s abou…
Read the full article at: http://www.ibj.com/articles/58820-bmo-harris-bank-cutting-employees-in-restructuring