Layoffs Canada

CIBC

Canada-wideFinance & Insurance
Laid off (12 mo)
500
Events (12 mo)
1
Most recent
Feb 2026
🟡
Layoff Activity
Watch
Trend vs prior 12 months: increasingAll-time: 2,900 laid off across 2 eventsBased on tracked events only — may not reflect all workforce changes
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Pattern

Provinces most affected:Ontario
Primary industry:Finance & Insurance
Frequency trend:Increasing

Sources

Media Report

All events link to original source articles.

Layoff Event History

February 2026

500
jobs cut
Ontario

In May 2025, CIBC eliminated more than 500 positions at its credit card call centre in Toronto as part of an operational restructuring. The cuts were tied to efforts to streamline operations and improve efficiency within the bank’s credit card services division.

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November 2023

2,400
jobs cut
Ontario5% of workforce

CIBC’s financial results, released on November 30, 2023, revealed that the bank cut nearly 2,400 positions during the fiscal year — representing roughly 5% of its total workforce at the time.

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