- Focusing on expenses in a slow growth environment, Bank of Montreal (BMO -4.9%) cut about 997 full-time jobs, or 2.1% of its workforce since July 31.
- Speaking on the earnings call, COO Frank Techar says the quick paring isn't necessarily reflective of what to expect going forward. "We do have some outstanding vacancies that I would expect we’ll fill as we go into the first quarter or two."
- Noninterest expense fell 3.9% Y/Y to C$2.6B in FQ4, but adjusted net income of $1.102B was off 2%.
- Previous earnings coverage
BMO cuts nearly 1K jobs
Dec 3 2013, 15:39 ET