In its second cutback since acquiring M&I Bank, BMO Financial Group says its planning to cut 157 jobs in metropolitan Milwaukee, according to a report in the Milwaukee Journal Sentinel.
BMO, which operates BMO Harris Bank, plans to cut a total of 350 jobs over the next three months, mostly to administrative service workers whose jobs can be outsourced. Of the 157 Milwaukee area workers, BMO spokesman Jim Kappel said about 35 would be considered for positions elsewhere in the company.
BMO, which still has 1,650 employees in Wisconsin, acquired M&I last year for $4.1 billion, and quickly announced a workforce reduction of 475, including about 100 in Milwaukee. Kappel told the Journal Sentinel that more reductions will occur as the company’s integration process moves forward.
