Feb 23 – Mar 1, 2026

Bank of Montreal has reduced its workforce by more than 670 jobs since the third quarter of 2025 — with its Q1 2026 earnings release revealing that it took a $202-million pre-tax severance charge in the quarter.

The Canada Border Services Agency is reducing its workforce by 348 employees and has sent notices of potential layoffs to 708 people, with cuts exclusively affecting national headquarters branches. The job cuts are in response to a 2% budget reduction of approximately $52 million and are part of the federal government's broader effort to reduce its workforce by 16,000 full-time equivalent positions over the next three years.

TD Bank announced a 3% workforce reduction as part of restructuring efforts to boost productivity and minimize real estate investments. The layoffs were announced in December 2025, revised from an earlier 2% reduction proposed in May 2025.

BMO announced workforce reductions of 600+ jobs as part of efforts to improve operational efficiencies. The layoffs affect the Canadian financial services sector.

eBay is eliminating approximately 800 jobs, or around 6% of its global workforce, in 2026. eBay employs approximately 480 people in Canada.

Humber Polytechnic is offering “voluntary exit packages” to staff as it confronts mounting financial pressure, warning that deeper job cuts could follow if the uptake is too low by March 9, 2026.

The Department of Justice is cutting approximately 73 employees from its Indigenous rights and relations unit, representing more than one-fifth of the 328 at-risk positions across the entire department. The Treasury Board's latest numbers show the Justice Department plans to cut 197 employees and 37 executives.

Panasonic is reportedly planning to cut around 12,000 jobs as part of a broader restructuring, according to Nikkei. The company is also set to transfer its television sales operations in North America and Europe to Chinese appliance maker Skyworth Group in April 2026. It remains unclear how many of the layoffs will affect Canadian employees.

The Nova Scotia government's 2026 budget includes more than $300 million in cuts affecting approximately 1,000 full-time equivalent jobs across the civil service and broader public sector. The cuts target management and administration roles rather than front-line services, with job reductions to be achieved by January 2027, with the Justice and Social Development departments expected to take the biggest hit.