An ugly revenue picture at BMO Harris Bank prompted the bank’s Canadian parent to cut more than 250 U.S. workers in the late summer and fall, but a spokesman said Chicago was largely spared, with less than 20 losing their jobs there.
Overall, Toronto-based BMO Financial Group eliminated nearly 1,000 positions in Canada and the U.S., about 2 percent of its total workforce in its fiscal fourth quarter, which ended Oct. 31.
“The reductions were a part of our ongoing efforts to further improve productivity,” the spokesman said in an email. “They took place across our footprint and across our operations with a considerable amount coming from attrition. There was not a large impact in Chicago.”
BMO Harris has branches in Wisconsin, Arizona, Florida, Kansas, Missouri, Indiana and Minnesota. BMO Financial has other U.S. operations in New York, Atlanta, San Francisco, Houston, Seattle, Washington, Boston and Denver.
Milwaukee was harder hit than Chicago in the reductions, losing nearly 50 positions.
Read more in Crain’s Chicago Business.
