Scotiabank announced layoffs Wednesday as a result of changes at the bank and customers' day-to-day banking preferences, as well as ongoing efforts to streamline operations.
The Bank of Nova Scotia, or 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 charges include $247 million after-tax for restructuring and severance provisions and $63 million after-tax related to the consolidation and exit of certain real estate premises and service contracts. Scotiabank noted that the market value of Bank of Xi’an has remained below the bank’s carrying value for a prolonged period.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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
Read more »
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...
Read more »
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.
Read more »
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.
Read more »
Scotiabank cutting 3% of global workforce, will take $590M Q4 charge after taxTORONTO — Scotiabank is 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 bank announced Wednesday.
Read more »
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.
Read more »