Scotiabank to Cut Jobs in Canadian Banking Unit
Bank of Nova Scotia is reducing its workforce in the Canadian banking division to improve long-term profitability.
According to a memo from Aris Bogdaneris, the division leader, the changes aim to prioritize activities that have 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,"
Bogdaneris did not specify the number of roles being cut. The move is part of the firm's efforts to boost profitability.
Author's summary: Scotiabank cuts jobs to boost profitability.
- Source: Bloomberg
- Date: October 17, 2025
- Views: 973