BMO Harris Bank is cutting 74 positions in Wisconsin.
The U.S. banking arm of Bank of Montreal said the cuts will take place at a data center in Sun Prairie and a mortgage underwriting office in Cedarburg. The severances come 14 months after the $95 billion-asset bank bought M&I Bank in Milwaukee and an ensuing review of BMO Harris' operations.
The Chicago bank eliminated about 200 jobs since the acquisition, says spokesman Jim Kappel. He says BMO Harris has also added roughly 354 positions in personal banking, credit analysis and customer service. "The reductions represent mostly jobs in corporate functions that were overlapping with others resulting from integration efforts," Kappel says.
BMO Harris, which has roughly 650 branches in nine states, said in June that it would close 17 branches in Wisconsin after reviewing its branch network.
Kappel says that employees who lose their jobs can apply for other posts within the bank.
