By Matt Scuffham and Marcy Nicholson
TORONTO/NEW YORK, May 25 (Reuters) - Bank of Montreal
BMO.TO , Canada's fourth biggest bank, will cut 4 percent of
its total workforce as part of cost cutting measures, according
to a memo to staff by Chief Executive Bill Downe seen by Reuters
on Wednesday.
Earlier on Wednesday, the bank said bad loans to oil and gas
companies more than doubled in the latest quarter, and it set
aside more funds to cover losses.