Scotiabank to Cut Jobs in Canadian Banking Unit
Bank of Nova Scotia is reducing its workforce in the Canadian banking division to enhance long-term profitability.
According to a memo by Aris Bogdaneris, the division leader, the changes aim to focus on activities with the most significant impact on the business.
"I want to acknowledge that a transformation of this scale is not easy, especially when it means saying goodbye to valued colleagues,"
Although the exact number of job cuts was not specified, the move is part of the company's efforts to prioritize meaningful activities.
Author's summary: Scotiabank cuts jobs for profitability.