Finance & Insurance

Laurentian Bank of Canada announced the sale of its operations after 179 years in business, with approximately 700 of its 2,800 employees to be laid off as all 58 Quebec branches are closed. The bank's commercial operations are being sold to Fairstone Bank of Canada while retail and small business portfolios go to National Bank of Canada.

Scotiabank reported a $373-million restructuring charge in Q4 2025 related to job cuts that resulted in 2,291 fewer employees by the end of the fourth quarter compared to the first quarter. The bank stated that these actions were undertaken to simplify operations and free up capacity to invest in technology and revenue-generating sales staff.

Scotiabank has reportedly conducted a new round of layoffs at its Toronto office, with positions being eliminated. According to reports, these roles are being outsourced to lower-cost foreign countries including India, the Philippines, and Latin American nations.

Edward Jones conducted layoffs in Canada as of August 2025. The article discusses severance rights and packages available to affected employees.

OMERS Ventures, the VC arm of the Ontario Municipal Employees Retirement System, laid off several employees from its U.S. investment team, including senior managing partner Michael Yang, as part of a strategic shift to refocus on Canadian investments. The layoffs reduced the firm's headcount from 19 employees in June to 12 total, with the U.S.-based investment team reduced from two-thirds to half of the firm's investment staff.

Bank of Canada layoffs affecting employees across the country. The article discusses employee rights, severance pay, and related information for affected workers.

Scotiabank is laying off staff across its Canadian banking unit as part of its multiyear strategic turnaround plan launched in late 2023. The restructuring aims to accelerate execution of the refresh and improve efficiency in acquiring primary clients and enhancing digital capabilities.

Scotiabank laid off approximately 2,495 employees in Toronto on June 1, 2025, after notifying the federal government of the group termination in late February. The bank had requested waivers from certain Canada Labour Code obligations, though the government confirmed the employer met its obligations under the code.