Scotiabank to Cut Jobs in Canadian Banking Unit
Bank of Nova Scotia is reducing its workforce across the Canadian banking division to enhance long-term profitability.
Changes at the bank announced “over the last few weeks” are designed “to prioritize only those activities that drive the most meaningful impact for our business,”
According to Aris Bogdaneris, who leads the division, the transformation aims to focus on high-impact activities. Bogdaneris acknowledged the difficulty of this transformation, especially when it involves parting with valued colleagues, but did not specify the number of roles being eliminated.
Author's summary: Scotiabank cuts jobs for profitability.
- Company: Bank of Nova Scotia
- Division: Canadian banking
- Goal: Boost long-term profitability