BMO Trims Workforce by 600+ Jobs, Focused on Improving “Operational Efficiencies”

What’s Happening at BMO?

The Bank of Montreal (BMO) has reportedly reduced its workforce by more than 670 jobs since the third quarter of 2025.

In its Q1 2026 earnings release, the bank revealed that it took a $202-million pre-tax severance charge “associated with advancing operational efficiencies across the enterprise.”

Which Roles at BMO are Affected?

While the specific roles/teams that have been cut since Q3 2025 remain unclear, BMO layoffs have historically impacted a wide range of positions, including:

• Wealth management and private banking leadership
• Capital markets positions
• Retail banking operations
• Auto finance divisions
• Corporate and regional management roles

Reductions are typically tied to business units undergoing restructuring, rather than across-the-board eliminations.

Source

The Canadian Press discovered the workforce reduction at BMO while reviewing recent bank filings.

More BMO Layoff Coverage

For a full overview of BMO layoffs and the rights that non-unionized employees in Canada have in this situation, see our BMO Layoffs & Severance Guide.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.