- Associated Press - Thursday, May 19, 2016

MADISON, Wis. (AP) - Old National Bancorp’s merger with Anchor Bancorp will cost scores of Madison employees their jobs.

Indiana-based Old National Bancorp announced in January that it was acquiring Madison-based Anchor Bancorp through a stock and cash merger. The company sent a letter to the Wisconsin Department of Workforce Development on Wednesday warning that 138 employees in Madison will lose their jobs, as well as one employee in Janesville and one in Stevens Point.

Most of the positions will end on Sept. 30; 10 will end next year.

The letter says affected workers aren’t unionized and have no bumping rights. The workers will be invited to resume-building and interview skill workshops and get personal career consultation.


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