Chicago, Illinois-based BMO Bank North America, an American national bank and the U.S. subsidiary of Bank of Montreal, has announced a reduction in force relating to its $16.3 billion acquisition of Bank of the West, which will assume BMO branding.
The reduction will impact 248 employees in San Francisco and San Ramon, mostly corporate staff. Layoffs will commence on September 15. 2023.
An additional 56 employees, mostly occupying corporate functions, will be laid off at its Thornton, Colorado operations.
A spokesman noted, “We are working closely with affected employees to provide support and to ensure they are treated with fairness and respect. BMO has no plans to shut down Bank of the West branches in connection to the transaction."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?