Canada’s biggest banks have been trimming staff in the face of mounting expenses, rising loan-loss provisions and tightening capital requirements
Scotiabank signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. Scotiabank says it's cutting about three per cent of its global workforce as a result of changes at the bank and customers' day-to-day banking preferences, as well as ongoing efforts to streamline operations.THE CANADIAN PRESS/Andrew Lahodynskyjis cutting 3 per cent of its global work force, deepening the streak of job cuts on Bay Street this year.
Royal Bank of Canada was the first major lender to signal staffing reductions. During its third quarter results release at the end of August, the bank said that its number of full-time employees fell 1 per cent from previous quarter as workers left the bank. It said it expects to further decrease its work force by 1 per cent to 2 per cent next quarter.
Canada’s fourth-largest lender is in the midst of launching its turnaround strategy as new chief executive officer Scott Thomson seeks to revive the lender’s beleaguered share price. He has said that the plan -- set to be unveiled in December -- will focus on improving employee culture to improve customer experience, as well as growing its Canadian business and rejigging its international unit in Latin America.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Chinatown BIA files police report after latest vandalism to street artThe Chinatown BIA says its street sculptures on Somerset Street have once again been vandalized.
Lire la suite »
Scotiabank to cut about 3% of its global workforceThe cuts come as a result of changes at the bank and customers’ day-to-day banking preferences, as well as ongoing efforts to streamline operations
Lire la suite »
Scotiabank cutting 3% of global workforce, will take $590M Q4 charge after taxTORONTO — Scotiabank says it's cutting about three per cent of its global workforce as a result of changes at the bank and customers' day-to-day banking...
Lire la suite »
CP NewsAlert: Scotiabank cutting 3% of global workforceTORONTO — Scotiabank says it's cutting about three per cent of its global workforce as a result of changes at the bank and customers' day-to-day banking preferences, as well as ongoing efforts to streamline operations. More coming.
Lire la suite »
Scotiabank cuts 3% of global workforceScotiabank says it's cutting about three per cent of its global workforce as a result of changes at the bank and customers' day-to-day banking preferences, as well as ongoing efforts to streamline operations.
Lire la suite »
Scotiabank cutting 3% of global workforce, will take $590M Q4 charge after taxScotiabank says it's cutting about three per cent of its global workforce as a result of changes at the bank and customers' day-to-day banking preferences, as well as ongoing efforts to streamline operations.
Lire la suite »