MILWAUKEE (WSAU) B-M-O Harris Bank plans to cut almost 75 jobs at two facilities in southern Wisconsin. The firm told state officials it would lay off 37 people at its Bank Mortgage Investment Management center in Cedarburg, and 37 others at a data center in Sun Prairie.
Spokesman Jim Kappel said the affected employees mainly have data processing and underwriting functions. He said it’s part of a larger cut of 200 positions at B-M-O banks throughout its service region. B-M-O Harris acquired the former M &I Bank a year-and-a-half ago. Kappel said employees would get the chance to apply for other jobs within the firm. And those who are not kept will get severance pay and help in finding new jobs.
Kappel said B-M-O Harris has hired over 350 people since acquiring M & I. Many are personal bankers, credit analysts, and service representatives.