BMO operates numerous branches and corporate offices in Ottawa, employing professionals in personal and commercial banking, tech, analytics, and wealth management. Staff reductions often occur following digital transitions, internal restructuring, or regional consolidations.

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Steps to Take if You’re Laid Off or Offered Severance:

1. Check the Termination Details

Make sure you understand the reason provided, whether it’s without cause, part of a group layoff, or tied to role redundancy.

2. Understand Your Right to Fair Compensation

Under Ontario law, you’re entitled to reasonable notice or severance based on tenure, age, position, and market conditions. This can exceed the offer BMO initially provides.

3. Review All Pay Elements

Did your job include incentives, RRSP matching, or bonuses? These should be considered in your total compensation.

4. Protect Your Future Employment

Some severance offers include non-compete or non-solicit clauses. These can limit your options in the finance sector. Have them reviewed before you sign.

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FAQs:

• Can BMO terminate me while on leave?

It’s highly risky and possibly illegal to terminate someone on parental, disability, or medical leave. If this happened, you may have a human rights case.

• Can I negotiate my termination date?

Possibly. Some employees can extend their employment for pension or bonus eligibility.

• What if I was offered a consulting contract instead?

Be cautious—this may be a way to avoid severance obligations. It’s critical to evaluate this with one of our highly trained employment lawyers before proceeding.

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Why Choose Our Firm:

We’ve helped BMO employees in Ottawa and beyond secure the packages they truly deserve. Do not hesitate to contact us today for a free consultation.