Scotiabank to Cut Jobs in Canadian Banking Unit
Bank of Nova Scotia is cutting jobs across its Canadian banking division to boost long-term profitability.
According to a memo to staff by Aris Bogdaneris, who leads the division, the changes are designed
to prioritize only those activities that drive the most meaningful impact for our business.
Bogdaneris acknowledged that
a transformation of this scale is not easy, especially when it means saying goodbye to valued colleagues, but did not specify the number of roles being cut.
The changes were announced over the last few weeks as part of the firm's effort to improve profitability.
Author's summary: Scotiabank cuts jobs for profitability.
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