BMO Capital Markets Cuts About 100 Jobs With Deals Drying Up
- About half of cuts will come from operations in Canada
- Bank says it’s ‘focused on managing expenses dynamically’
The Bank of Montreal (BMO) headquarters in Toronto, Ontario, Canada.
Photographer: Della Rollins/BloombergThis article is for subscribers only.
Bank of Montreal’s capital markets unit is cutting about 100 positions, or 3.5% of the division’s staff, in response to a weak environment for deals.
About half of the jobs lost at BMO Capital Markets are roles in Canada, according to a person familiar with the matter, speaking on condition they not be identified. Executives were meeting with some staff to outline the details early Wednesday afternoon.