Amid Protests, M&I Cutting 143 Positions

Marshall & Ilsley, a Milwaukee based financial services corporation, announced that it cutting 143 positions.  According to the bank, the decision is unrelated to the pending acquisition of the company by Bank of Montreal.  The cuts will cover a wide array of positions, from internal support to management level jobs.  The company says that employees who are laid off will receive generous severance packages including outplacement assistance.

Meanwhile, protesters have gathered outside the bank’s headquarters as part of the ongoing protests against Governor Scott Walker’s plan to strip unions of collective bargaining rights.  A small group of protesters passed out fliers calling attention to the contributions made by M&I executives to Governor Walker’s campaign and the failure of M&I to repay TARP money.