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Canada's BMO capital markets announces layoffs - World Business Watch - WION NewsBank of Montreal (BMO) has once again begun staff reductions in its US investment banking unit, impacting key positions including managing directors. BMO Bank plans to lay off 44 employees at its downtown Milwaukee location. The layoffs will impact employees based out of BMO Tower at N. BMO Financial Group, Wells Fargo and USAA have reported hundreds of layoffs to state officials in recent weeks as the US banking industry continues to downsize.