Bank of the West in San Francisco, which sold to Bank of Montreal earlier this year, plans to lay off 248 employees, according to a Worker Adjustment and Retraining Notification filing.
The bank plans to cut 203 jobs in its Camino Ramon office and another 45 at its former headquarters at 180 Montgomery St. The cuts are expected to take place by Sept. 15.
“We are working closely with affected employees to provide support and to ensure they are treated with fairness and respect,” a Bank of Montreal representative told Banking Dive.
Bank of Montreal bought Bank of the West from BNP Paribas in February for $16.3 billion.