As part of a moneysaving effort, Madison-based AnchorBank will cut 14% of its workforce over the next three months.
The Wisconsin State Journal reported AnchorBank is eliminating 101 jobs. The company said 78 employees will leave by Sept. 30 after they took a voluntary separation package. Another 23 jobs will be cut with the closing of six bank branches.
A company spokesperson said some of the job cuts will be replaced over time, while others will be consolidated or left vacant.
AnchorBank’s parent company said the cuts and the planned sale of a Winneconne branch would save about $5.4 million a year
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