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 by Aris Bogdaneris, who leads the division, the changes are designed to prioritize activities that drive the most meaningful impact for the business.
"I want to acknowledge that a transformation of this scale is not easy, especially when it means saying goodbye to valued colleagues,"
Bogdaneris did not specify the number of roles being cut. The move is part of the firm's effort to increase profitability.
Author's summary: Scotiabank cuts jobs for profitability.