Thread regarding Bank of Montreal layoffs

BMO bad management

worked in the IT dept over 22yrs, i got cut two months ago. Over 20 years what i saw in BMO was giving management opportunities for unfit individuals, who you know get hired not for what you know.
Bad/mismanagement brings the productivity down..... i trained many juniors, when the time comes for cut, they picked me since i cost a lot for BMO, but they failed to see my investments in BMO that brings money back to bmo.

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Post ID: @OP+15jEtRpt

3 replies (most recent on top)

I am still BMO staff member. Following is my candid observation. BMO is management heavy company with 7+ layers of management. Too many band chiefs and not enough Indians. They have been laying off Canadian citizens and hiring in India. Lot of Indian born people in top management have been selling a story to BMO leadership that we can get things done cheaper. You get what you pay. You looking for BMW and asking to pay Tata Nano price(now defunct world cheapest car) Irony is Canadian citizens are asked to train aka "Knowledge transfer" Indian staff. I have been told to interview these global resources to rubber stamp the hiring process. It is a churn to get things done at BMO. I agree 100% with other comments that it is not about what you know but who you know to get promoted. There are some good people in BMO who work efficiently but those are very small minority. There is lot of red tapism with mediocre management. Top leaders are living in stratosphere and clueless about what goes on below the ranks. On paper BMO tries to promote "Speak Up" culture but you dare not have a candid and honest conversation there is a retaliation for sure by those with vested interests. This is pretty much same story with other Canadian banks as well

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Post ID: @1Pfmt+15jEtRpt

BMO is firing several BUSINESS BANKING VICE PRESIDENTS and RELATIOSHIP MANAGERS after stating THAT there will be no retrenchment due to the PANDEMIC.

THIS IS BMO NOW. You cannot trust MANAGEMENT.

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Post ID: @Qsxb+15jEtRpt

could not agree more. Steve Tennyson and Lawrence Wan destroyed Technology and Operations. Indian GRs are replacing Canadian Citizens. Time for the Government to shut down the Indian GR flood gate. BMO CEO Darryl Whyte is incompetent and he is making up for that thru FTEs job cuts. Former BMO SVP Jamie Patel's (Indian Gujurati) dream was to have 30% Canadian Citizens and 70% Indian GRs and that is exactly what is taking place.

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Post ID: @aeed+15jEtRpt

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