The cuts account for a small percentage of the firm’s personnel, said one of the people, who didn’t provide a specific figure.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way. If you don't see it, please check your junk folder.
Bank of Montreal, Canada’s fourth-largest lender, said capital markets revenue fell 20 per cent from a year earlier in its most recent quarter, and the bank booked a $37 million severance charge for the business related to the cuts.Article content “Some of those businesses, including investment banking and M&A, are likely to be operating in a less-frothy environment going forward,” Dean said. “Layer in the fact that, as public companies, our banks have to answer to analysts, and that means that we can expect them to manage earnings, so cuts could be in the offing.”
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