Thread regarding Bank of Montreal layoffs

Bank of Montreal Layoffs 2018

If I tell you that I am concerned you'll laugh - but how can you ignore so many warning signs here in Montreal.

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Post ID: @OP+PLPdFYm

12 replies (most recent on top)

Just to confirm - Jamie Patel did the exact same thing at American Century Investments.

It’s a he-l of a playbook - sell the execs that they are way behind, current staff is incompetent and the only path forward is outsourcing.

Takes three to five years to implement. By year three, it’s a total dumpster fire of incompetence. Blame the business for your lack of success, then exit to your new su---r host organization.

It’s been about three years - it’ll be interesting to see who her next victim is.

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Post ID: @lPdiz+PLPdFYm

https://www.chicagotribune.com/business/ct-biz-bmo-harris-bank-layoffs-20191204-7y4ansboobdvdceajtdafqslyq-story.html
Happening again. BMO hired a record number of employees on fall of 2018 at the Buffalo Grove Il contact center for their digital upgrade...those employees busted their asses....only to learn after the upgrade was successful and the calls began to diminish that they were closing the BG facility and wont it be wonderful to hike an hour to their fancy Naperville Il facility.... If they intended on keeping those employees, why wouldnt they hire out of Naperville...why? Because they hoped the BG employees would quit. Meanwhile...they soft trained bunch of mealy mouthed agents in the philippine and offered agents to work from home...isnt that awesome? Well...not if you are secretly sending BG senior reps to train those in the Philippines...which means...those at home will probably be laid off after the Philippine reps take over....meanwhile nobody gets a raise this year, even though they have record profits why they tell us how awesome their employees are....atmosphere is hostile at Naperville, Il ,managers are secretly leaving...short handed in management, hold times are again terrible... nobody knows what really going ...and then this article two days ago!!!!! So while they pretend with holiday giving programs and festivities...that plan to jerk us all off.

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Post ID: @cCweq+PLPdFYm

Jamie Patel has been fired from BMO recently because she was one of the worst leaders who fired reliable Canadian and American IT workers in favor of cheaper offshore IT workers from India who’s quality and work ethic are terrible.

Now Jamie Patel is moving on as CIO for an American Financial services company so she can work her magic there and fire another 70% full time and hire offshore IT workers from Tata who can barely tie their shoes let alone work in IT.

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Post ID: @5Vhov+PLPdFYm

I used to work in the IT Engineering department until they fired me.

I don’t understand the rationale of firing 30 plus full time employees and then hiring on shore contractors that make between 3 to 4 times what the previous full time person was making. If the shareholders actually knew that BMO is playing this shell game.

They’re so shortsighted that they actually fired their entire security team and no nobody is available to patch desktops/laptops/servers. Smart move!

If only hackers knew this. Hmmmm.

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Post ID: @5xker+PLPdFYm

BMO has employees that have been there for years most 20+ collecting a paycheck and basically not growing or going the extra mile with tech trends and therefore have to be eliminated. Not to say all employees are like this - however if your on a team with a bunch of those types or whiners who wine about riffs find a new position. No job is ever safe in any industry- you need to expand your mind and look for growth opportunities. Enterprises have tons of slack employees that are just collecting checks and staying under the radar holding on to jobs where mediocre performers and automatic annual raises were always the deal- get an education and kick back in a cube, they believe they hold the keys to the castle- little do they know everyone is replaceable and times change- companies are seeking go getters and problem solvers. people that can actually do a job instead of robotic maneuvers on a keyboard.

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Post ID: @5ozll+PLPdFYm

Well while it’s sad to hear these stories, I detect some frustration. From my experience doing business with BMO for 20+ years- Technology is changing, business trends are changing, BMO is way behind the 8 ball here! #1 riffing technology is a big mistake and sending jobs to India will back fire as it did with GE- now they are bringing a full IT staff back on. Subcontractors never work and this will be a very painful time for employees who rely on IT support. The Riff in mortgages is for sure necessary - they have the worst mortgage team on the planet- the delays to get anything done and the loss of data is so 2003- Time to get with the 21st century with 24 hour approvals. if I can call insurance and get my entire life history and credit in 5 minutes what is the problem with banking, Which also comes back to Development- these older companies need to find better Dev Ops- BMOs bank app is clumsy at best, most of the stuff they do needs to go digital and get done faster- everything needs to go to self serve!

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Post ID: @5otts+PLPdFYm

I know 100% with certainty that layoffs at the Naperville, IL Facility (suburb of Chicago) abruptly occurred one day after the anniversary of 9/11. These poor employees came into work the morning of 9/12/2018 to an email stating that there was a MANDATORY meeting. Some were given 30Day notice where others were given 90 day notice. What a c-appy thing to do! Majority of the people were in there 40's. Some were 64 years old and about to retire. Of course none of Sr. Management were effected! I have thousands of dollars that I was about to deposit into BMO but not any more. Never going to bank at BMO!

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Post ID: @5npyd+PLPdFYm

I am one of those Ex BMO Employees that was affected directly by this new method of doing business. After 36 plus years I was told that my role was "eliminated". You would have to be absolutely naive and or stupid to actually believe this to be true. Bank of Montreal like many of the other Banks are opting to do a "salary dump" in order to save money and to employ Global Resources and Contractors that they do not have to pay benefits to and that they can dispose of as they feel the need to. What they are not doing is showing the respect to the remaining full timers who now have to go through the cycles upon cycles of training these global resources for the 6 months - 2 year cycles that that they are hired for. Their short sighted approach will also hurt future generations of Canadians who will not have a pension fund that is being kept up for their future retirement. Who is paying into their pension fund I ask?? GR's?? Contractors?? Unfortunately - this seems to be the way that Financial Institutions are going. Loyalty?? Thing of the past.

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Post ID: @4Hjcp+PLPdFYm

I used to be proud to say I work at BMO now it’s an embarrassment that an organization puts greed and profit before employees who have made it successful.

All the banks are all the same!

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Post ID: @4vkfv+PLPdFYm

I can see it around me. Unfortunately it is true. But how government can let it happen?

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Post ID: @4gykm+PLPdFYm

Hundreds of people in technology were laid off at BMO last week (June 11, 2018). the jobs are given to incompetent Indian GRs. Eventually, India will bankrupt Canada. One of the Senior VPs in Technology at BMO (Jamie Patel- an Indian Gujurati) stated that the target would be 70% Offshore (India) vs 30% local.

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Post ID: @43lkm+PLPdFYm

It's also happening in New York

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Post ID: @1Fccs+PLPdFYm

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