Have you heard anything about potential Bank of Montreal Layoffs in 2019?
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BMO's work environment became horrible. Management is awful. Employees are the low hanging fruit and as such they will use them as an escape goat for management incompetence. India is destroying this country by flooding Canada with GRs. The Bank is going down big time in comparison with other financial institutions. Layoffs in 2016, 2018, and now 2019 - the worst in Canadian history.
Chicago is next....after hiring a record number of people in fall of 2019 to support their digital banking upgrade efforts at their Buffalo Grove Il Contact Center, within a few months, notified its BG staff that they were closing that office. If you intended on keeping your employees o that mass hire, why not hire the out of the remaining facility south of there in Naperville.....why? Because they knew people would leave....too far to drive. Then next steps....let people work from home, meanwhile in under general secrecy send senior rep to the Philippines to train to take American jobs. No raises and as recently as Dec 3 and announcement to layoff 5% of the Chicago workforce. Not surprising Chicago is losing all its business because they are not business friendly. It s—s to use people tis way, they hire and hire and then fire and fire....https://www.chicagotribune.com/business/ct-biz-bmo-harris-bank-layoffs-20191204-7y4ansboobdvdceajtdafqslyq-story.html
As announced Dec 3, 2019 the largest group firing among Canada's Chartered Banks in over a decade....2300 toast at BMO. https://www.bnnbloomberg.ca/bank-of-montreal-makes-industry-s-deepest-job-cuts-in-years-1.1356633
yes it has happened as of this summer in 2019; even on-shore hcl people were eliminated in favor of cheaper off-shore hcl people. even hcl is upset at the cut because local people made a lot more margin than the cheaper unskilled fresh graduates in India
which means the company even cut back on their hcl near shoring/on-site people and have no worries about keeping any of the skills in house. probably that means there are no more skills to knowledge transfer to a nearsource onsite person from hcl, or the people with those skills are hard to eliminate.
some IT stuff actually is hard and cant be clouded away