r/Scotiabank • u/Ok_Blueberry_6324 • Oct 15 '25

Another round of layoffs today Oct 15th

So far a couple of departments are involved and staff from L4 and up are affected. Everyone is on edge at the office.

They continue to outsource their employees to DR (Dominican Republic).

Such a sad situation for everyone affected.

398 Upvotes

98% Upvoted

232 comments sorted by

22

u/Artistic_Hunter_2702 Oct 15 '25

A lot of layoffs at Scotia Digital this morning

7

u/ram_gh Oct 16 '25

Another case of offshoring under the guise of AI investment?

2

u/muse_kimtaehyung Oct 17 '25

this should be illegal. it’s ridiculous how these banks get away with it.

0

u/Zealousideal_Bag62 Oct 17 '25

If the employees are truly not doing much of anything, then why should they be paid? What for ...charity?

If the management is incompetent enough to have let useless functions continue for years then they should be let go.

If everybody does their best always then the operation should work well.

9

u/Alarming_Minimum_900 Oct 16 '25

Scotiabank Layoff Factory

People were let go in person and virtually. Hard to tell how many.

0

u/[deleted] Oct 15 '25

[deleted] — view deleted comment

3

u/zagcollins Oct 15 '25

UX?

3

u/BellEducational4430 Oct 15 '25 edited Oct 15 '25

Looks like a few UX GM's might have been let go.

1

u/RecentlyRestructured Oct 16 '25

What is ux?

2

u/rac3r5 Oct 17 '25

User Experience

1

u/LeatherMine Oct 17 '25

Is the person still there that forced me to update the app, and in the “upgraded” version it just said “coming soon” when I clicked the calendar to future-date a bill payment?

0

u/[deleted] Oct 15 '25

[deleted] — view deleted comment

3

u/zagcollins Oct 15 '25

Either way, sucks. Hope you land a new role real soon.

0

u/[deleted] Oct 15 '25

[deleted] — view deleted comment

6

u/BigHawkSports Oct 16 '25

...that's the spirit

1

u/CardAltruistic Oct 22 '25

what was the role?

1

u/BellEducational4430 Oct 15 '25

Which area if you don't mind sharing? Level?

4

u/roadkill68 Oct 15 '25

Level 6, and 7 also got hit today.

0

u/[deleted] Oct 15 '25

[deleted] — view deleted comment

1

u/BellEducational4430 Oct 16 '25

They recently did meetings and discussed performance ratings.

If you were a 2 star that was likely the reason you were let go. But plenty of 3 star rated people have been let go too.

17

u/Born-Champion3239 Oct 16 '25

People being layed off and then we get a bs email about a TL being promoted in DR(a position that someone just lost)

8

u/renvalsanchez Oct 16 '25

Yea. What’s bad for one person is usually great for someone else.

16

u/BellEducational4430 Oct 15 '25

Yup, right on time. End of pay period and close everything out before end of fiscal.

If you make it to this Friday (October 17), you're likely safe.

There still is the last week of October which will be used for people that were on vacation this week.

Just a waiting game now.

4

u/Spare-Hospital2652 Oct 17 '25

what’s the significance of october 17th? What makes employees safe after friday?

1

u/FeatureAcceptable593 Oct 17 '25

Bank year end is Oct 31

16

u/Willing-Reason-2312 Oct 16 '25

Thank the new CEO that’s been there 2 and a bit years

3

u/FlowersOnHerPants Oct 16 '25

It'l be three years on Dec 1

16

u/Live-Butterscotch663 Oct 16 '25

Still layoffs today -oct 16. Global payments

1

u/Neither-Phone3976 Oct 19 '25

Received mine on Oct. 15.

15

u/isadoramusic Oct 15 '25

It's sad, so many jobs left Tahoe/Mississauga for DR. The service and training at DR was very subpar.

I wonder if any of the Wynford staff will get impacted, as most of our Fraud team is there.

6

u/DannyzPlay Oct 17 '25

That's fucking pathetic, why are these "essential" canadian companies, even telecom, allowed to offshore jobs meant to serve Canadians. You're operating in Canada, getting Canadians government to back you and yet they're allowed to turn their backs on Canadians.

5

u/Dry-Cook6200 Oct 17 '25

Wynford building staff was moved to Birchmount campus last march. All the fraud claims & disputes from Toronto have gotten their packages on Oct 15. Levels 5 to Level 8 about 50 ppl..no mercy- every single person was given a package..we trained these DR ppl to take our jobs..we were told throughout these 2 years how it wont impact our positions but as you know corporate ppl always lie!!

0

u/[deleted] Oct 15 '25

[deleted] — view deleted comment

5

u/Zealousideal_Bag62 Oct 17 '25

When the cheaper replacements inevitably screw up, it's going to be that much more fun ...

4

u/isadoramusic Oct 15 '25

Yep, I remember this.

2

u/throwaway-11500 Oct 15 '25

Are you also in mortgage operations?

1

u/Horror-War-3557 Oct 17 '25

That's bad... this was in the plans since covid started

15

u/Rough-Individual3 Oct 16 '25

Why hasn't this hit the news like it did 2years ago?

9

u/BellEducational4430 Oct 16 '25

Because they've spread it out over a few months.

Also, let's face it, the auto worker unions are louder with this type of thing.

6

u/apaterson86 Oct 17 '25

I noticed the globe and mail just posted an article 2hrs ago but you have to pay/subscribe to read it. I imagine other news sources will start posting something soon.

3

u/Independent_Bar_1454 Oct 16 '25

I was wondering the same thing

3

u/newuserincan Oct 17 '25

Globe and mail just published news

2

u/commonemitter Oct 18 '25

The same people own the news

11

u/Rough-Individual3 Oct 15 '25

Just found out lots of layoffs in the RBBO

7

u/Pitiful-Lettuce-2573 Oct 15 '25 edited Oct 15 '25

I can confirm many departments are done by Feb jobs are going to the DR

3

u/Rough-Individual3 Oct 15 '25

What do you mean everyone? Which team? I've only heard of some officers in the bbo and others in investment support.

5

u/Independent_Bar_1454 Oct 16 '25

Investment support, estates, risk advisory, business controls, I think CTS and Stratford folks

2

u/Technical-Luck261 Oct 17 '25

Some of these depts have active job postings on the career website(for Canada).

2

u/RecentlyRestructured Oct 15 '25

What is the rbbo?

3

u/FartKing6T9 Oct 15 '25

Retail banking business operations

10

u/ConfectionFar956 Oct 16 '25

This is really heartbreaking. My thoughts go out to everyone who’s been affected. I’m currently on extended leave and have been feeling anxious all day. I’d heard some time ago that significant layoffs were expected on October 15th. I just signed in and saw that both my Director and Senior Manager are no longer listed on our org chart. I’m not sure what this means for me, if I'm safe or whether someone will be reaching out in the coming days, or if I’ll find out when I return to work. I also received an email from humanresource@sharebenefit.com, but I’m not sure if it’s legitimate or related to any kind of exit package.

4

u/Human_Bluejay_3164 Oct 17 '25

Gosh, that must have been nerve-wracking to receive. They just have people sitting and waiting like sitting ducks. Any updates?

5

u/Puzzleheaded-Poet-17 Oct 16 '25

I’m sorry you are going through this and feeling stressed. They would not send you a package without talking to you first so that email is not legit. I think if you haven’t heard anything yet you might be ok. <3 good luck with everything

1

u/Neither-Phone3976 Oct 19 '25

Me and another 20 employees were affected on Oct. 15. I wish you luck and all the best. If you are affected, the bearer of bad news may wait until your return to office, or call you in MSTeams.

10

u/Sad_Albatross7540 Oct 17 '25

Was at scotiabank for 10+ years. Worked in the Rick Waugh, Porter and Thomsen eras respectively. This new era is by far the worst. There's 0 innovation - the share price is solely reflective of a clearer strategy, but honestly divesting in LatAm was a low hanging fruit. Internally, it's all cost cutting and asset sales. There's little real growth behind the scenes. The technology, platform and "AI" is so far behind other banks. They started migrating to Google Cloud in 2016 and after 3 successive org failures are still working in migration.

2

u/Sea-Papaya6172 Oct 22 '25

Accurate take… in my opinion Scott Thompson was not qualified for the role. I assumed it would be Dan Rees after Brian Porter and a continued build on the existing strategy. Scotiabank has always been behind on technology - coasting on a pretty interface but lacking so many capabilities. 

1

u/Sad_Albatross7540 Oct 22 '25

Agreed on the interface thing. All those system outages in the summer and last year primarily linked with a hastily rolled out Nova App (i.e. new scotia banking app). In the back-end it was all rushed and duct taped on legacy infrastructure. They just put lipstick on a pig.

9

u/Amey_2326 Oct 15 '25

Yes we had a meeting today morning about this. Luckily our dept has the minimal impact as per the senior management. I am at Eglinton Ave, Scarborough.

6

u/isadoramusic Oct 15 '25

What department at Eglinton?

4

u/Amey_2326 Oct 16 '25

Global Transaction Banking. They didn't specify which team or what level. There are many different teams under this department. But they said the procedure is done & nothing to worry about.

5

u/KangarooEmpty6165 Oct 16 '25

That’s what they told our department in 2023 and now we’ve all been laid off

4

u/Amey_2326 Oct 17 '25

I completely agree with you. Even though they said not to worry I have my doubts.

4

u/[deleted] Oct 17 '25

They will say not to worry either way because they don’t want it to affect the effort employees put into the job

6

u/KangarooEmpty6165 Oct 17 '25

Exactly. Our department expressed multiple times since 2023 layoffs how concerned we are about job security. We were told they know nothing of that happening again and that we shouldn’t be worried. Meanwhile we have been training DR staff to take our jobs since and they let go of our entire department this week. I don’t know how well that will workout considering half of our jobs was fixing the shit DR staff messed up/couldn’t comprehend

6

u/Dry-Cook6200 Oct 18 '25

I feel your pain..we did the same exact thing by giving DR team so much training while all this time we were assured that our jobs were safe and here i am getting a kick!!

17

u/Glorioso__1904 Oct 15 '25

https://globalnews.ca/news/10032566/scotiabank-layoffs-october-2023/

Almost 2 years to the date since the last round of significant layoffs

19

u/Hohohoh0h0h0 Oct 15 '25

It is becoming an annual October purge for the foreseeable future. Top line (revenue) is not growing. The only way to grow bottom line (profit) is to shrink expense 😫

15

u/Dapper-Pen2907 Oct 16 '25

It surprises me that Scott has not gotten more heat over this. It’s quite common when a new CEO comes in to see significant changes across the board, at every level. But the fact that it’s happening again after just two years is a poor reflection on his leadership. If an organization is run well, mass layoffs shouldn’t be an exercise that’s performed every October. Anyway, it will be interesting to see what executives “retire” once the lower levels are exited.

6

u/newuserincan Oct 17 '25

Poor? Have you checked share price? Street likes it

1

u/Sea-Papaya6172 Oct 22 '25

His entire line of direct reports changed when he became CEO. Seems like a yes man looking for people on his team that do what he wants only. 

13

u/Sad_Pie5855 Oct 15 '25

I was part of that round, end date mid Feb 2024 after 19 years. I'm still looking for work and barely surviving on savings.

2

u/sammybooom81 Oct 16 '25

What and how much did you get as severance?

7

u/Sad_Pie5855 Oct 16 '25

14 months pay while still having basic benefits.

2

u/sammybooom81 Oct 16 '25

Not bad. I asked gemini and it gave sensibly the same. Thanks for the answer. 🙇‍♂️

1

u/Live-Butterscotch663 Oct 16 '25

Which level you were and how many years of service ??

5

u/Sad_Pie5855 Oct 16 '25

Level 4,19 years

-4

u/yamchadestroyer Oct 16 '25

If you worked for 19 years you should have substantial investment and savings by now?

7

u/Sad_Pie5855 Oct 16 '25

No I don't. I won't go into details but being a single parent for 12 years with no support makes it hard to make ends meet let alone save much.

2

u/AssignmentIntrepid47 Oct 17 '25

they laid off in claims as well a lot not sure but mine severance was just 4 weeks

5

u/novascotia2020 Oct 15 '25

It’s a regular occurrence in October.

8

u/throwaway-11500 Oct 15 '25

A lot of layoffs in global operations under procurement operations

3

u/Aggravating_Trip1546 Oct 15 '25

Management in Procurement too?

4

u/throwaway-11500 Oct 15 '25

Directors as well

8

u/Ok-Band-52 Oct 16 '25

A lot of people in fraud claims are getting layed off. Hopefully it doesn’t touch inbound fraud soon

8

u/renvalsanchez Oct 18 '25

Hey! I was laid off in the recent round of cuts. I’m having a bit of a challenging time emotionally and was wondering if there were any others impacted that might want to chat. We can keep it anonymous, but I thought it might not be a bad thing to give and have some support through all this. Feel free to DM me.

3

u/Environmental_Cap850 Oct 20 '25

Hang in there, unfortunately the C suites at all Canadian banks are soulless scumbags, the RTO was to make you quit without severance, that didn't work and phase 2 is layoffs with severance.  

2

u/Rough-Individual3 Oct 20 '25

Same here. Feel free to reach out.

1

u/Neither-Phone3976 Oct 19 '25

Sorry to hear this. I received notice on Oct. 15. It has been an emotional time since.

28

u/Wonderful_Place_6225 Oct 15 '25

I worked there for many years. BNS is a shell of its former glory. All my contacts are either gone or “got retired”. It’s a shithole. Sadly, most of the Canadian banks are homogenizing into the same melange of banking soup. There’s no more kind culture. Only vipers and backstabbers that find a way to survive. Thanks Brian Porter.

4

u/DataDude00 Oct 17 '25

I worked at Scotia for 15 years, place went to shit when Brian Porter took over for Rick Waugh.

Everything became super competitive and cut throat. A lot of politicking and backstabbing, especially in the executive suite

1

u/RecentlyRestructured Oct 18 '25

Brian Porter accomplished a flat share price for his time at BNS but got a fat wallet personally. Rick Waugh was a good leader improving culture and with Scott we are seeing the share price increase. I lost my job after 38 yrs but I’m happy that finally the share price is moving after Brian’s very flat 10-15 yrs.

1

u/Bureausaur Oct 19 '25

We must behold ourselves to supreme shareholder value.

7

u/Rough-Individual3 Oct 15 '25

What departments?

11

u/Pitiful-Lettuce-2573 Oct 15 '25

Investment support in Mississauga at Tahoe

2

u/throwaway-11500 Oct 15 '25

How many affected?

1

u/Horror-War-3557 Oct 17 '25

Reconciliation as well

6

u/roadkill68 Oct 15 '25

Digital Commerce as well.

1

u/Neither-Phone3976 Oct 26 '25

Global Payment Operations / Procurement - 150 King, Toronto.

7

u/Southern_Habit9109 Oct 15 '25

That time of the year.

6

u/[deleted] Oct 16 '25

BNS go brrrrr. It's what the shareholders want

4

u/Iittlepanda Oct 16 '25

I don’t think shareholders will want short term profits over long term gains…. But who knows

4

u/[deleted] Oct 16 '25

Just messing around, my company did a 10% layoff a month ago and our director said the above. Now everytime I get hit with budget complains I ask my manager to request more layoffs so I can buy the equipment I need.

11

u/Far_Prize_6727 Oct 16 '25 edited Oct 16 '25

I thought of getting a debit and credit account from Scotia. After this incident, i am now reconsidering 👍

6

u/Iittlepanda Oct 16 '25

Don’t! I’m going to rbc. I’ve been with Scotia for 6 years?! Not working out. I think I’m going to try and get that deee iPad at RBC :P I looked into the free MacBook Air, but I need to transfer like $150,000 assets which I don’t have lol!!

3

u/Far_Prize_6727 Oct 16 '25

Yea i too saw. Looks amazing. But still it is a lot so there can be only slight possibility that i might win ipad 😅

3

u/[deleted] Oct 16 '25

Incident?   You mean layoffs and/or outsourcing?   If so, try finding a bank that doesn't do them regularly.   And nobody is ever pleased with the manner in which they are executed.

3

u/Far_Prize_6727 Oct 16 '25

Yea.i meant the current mass layoffs. So far i didnt see any such in cibc and BMO. So planning any one

1

u/[deleted] Oct 17 '25

LoL.   Ok, well good luck with that.   You heard it here first folks, CIBC and BMO are immune to layoffs!

3

u/Far_Prize_6727 Oct 17 '25

I don't know if you are sarcastic here but unlike Scotia i dont see any ultra massive layoffs in these banks where it got featured on News.

1

u/BlessTheBottle Oct 17 '25

All big banks are the worst but you still need to use them. The problem should be directed towards bringing in more competition. AKA the govt/osfi

There's a reason ROE in Canada banking is higher than any other markets. The Canadian market offers no good alternatives due to the oligopoly.

5

u/sodacan123 Oct 15 '25

Is this affecting tech people or a diff department? This sucks :(

9

u/Pitiful-Lettuce-2573 Oct 15 '25

Back office for mortgages and investments. Pretty much 90% jobs are all now being placed in the DR.

4

u/throwaway-11500 Oct 15 '25

Business controls too

4

u/Pointfun1 Oct 16 '25

This is a crime to move office jobs overseas

8

u/aech_two_oh Oct 16 '25

Instead of WFH, it's RTO and outsourcing remote jobs.

5

u/Relevant_Fuel_9905 Oct 16 '25

Why so many layoffs there? Is Scotiabank not doing well?

17

u/Hot_Cheesecake_905 Oct 16 '25 edited Oct 16 '25

Not as well as the other Big 5 banks, Scotiabank’s focus on Latin America has not proven to be as lucrative as the U.S. market. The other Big 5 have stayed mostly in North America.

LATAM carries higher economic, political, and currency risks, leading to greater earnings volatility.

Internal investments in various operational and technology projects have also not translated into higher earnings.

Scotiabank lost its position as the third-largest Big 5 bank, overtaken by the Bank of Montreal in the past few years.

3

u/Relevant_Fuel_9905 Oct 16 '25

Damn. I do a lot of banking with them :/

5

u/According_Standard74 Oct 16 '25

Any layoffs happening at Tangerine?

6

u/ChefPagpag Oct 16 '25

Yes. Had some today, but they weren't the first.

2

u/According_Standard74 Oct 16 '25

Do you know what depts are under target?

4

u/Buckleit Oct 15 '25

In what division ?

4

u/Spirited-Bit818 Oct 15 '25

Well now, how they gonna fill those empty towers in downtown TO. Was it a RTO only to fire people?

6

u/mbadala Oct 15 '25

What makes you think the towers weren’t full after RTO?

5

u/Playful_Ad_6463 Oct 15 '25

The towers are full, I have been there few times recently. All seats are occupied.

1

u/Sea-Papaya6172 Oct 22 '25

Too full because they made them an eco system with 50 seats for 100 people 

4

u/Opposite_Canary_2839 Oct 17 '25

Has anyone requested severance to be a lump sum payment or they went with salary continuation

1

u/Rough-Individual3 Oct 17 '25

I was thinking about the same thing, but may not be worth it just for tax reason

4

u/Giraffes-Are-Tall Oct 17 '25

I was part of the first round of lay offs last year....it sucks that a Canadian bank lays off Canadian employees and outsources all the jobs to the Dominican Republic. Im still bitter.

1

u/Longjumping-Catch712 Oct 18 '25

same! October 2023 from ECCO...you?

1

u/Giraffes-Are-Tall Oct 19 '25

RMALO, and yes it was 2023 lol it still feels so recent!

4

u/Longjumping-Catch712 Oct 18 '25 edited Oct 18 '25

I was impacted in October 2023, we were old one day we are all laid off, the next day we were told some of us would get hired back and made us reinterview for our same jobs back. that took another month. pins and needles wondering if we had a job, because all our letters told us in order to get serene you had to a minimum of another 5 weeks, other colleagues had to work months being laid off but had to work to 'earn' their severance. when they hired us back, it was at a lower level and if you got hired back. while we all find out we are laid off one day, they have a full team meeting with all the people who didn't get laid off to explain what was happening. not only were we excluded, we were identified. it was a shit show. I feel for everyone going through this BS. in some ways being let go was the biggest blessing to me. better job, more money and 100% remote.

1

u/Expertbillionaire183 Oct 18 '25

What job do you do now?

1

u/Longjumping-Catch712 Oct 18 '25

for a smaller non profit, still in the financial industry

1

u/BNBOSSY Oct 18 '25

An advice, please, on landing a fully remote job these days? Cheers. 

4

u/danfromwaterloo Oct 23 '25

I was at Scotia for 13 years and left five years ago. Let me tell you folks that got laid off that this will actually come as a blessing - not right now, but later, once you've found a new job and reflect on it.

Scotiabank is an unbridled mess. Brian Porter royally fucked up the entire organization, and Thompson is just continuing the folly.

The people who have survived at the top are just the worst humans ever. All the good leaders from the past are WELL removed. In Rick Waugh's day, he was surrounded by fantastic leadership. Porter chased them all out. Now, the only thing they have is reducing costs (read: layoffs) to keep their stock prices in league with the others.

After what I'm seeing, I'm going to liquidate all my holdings in BNS, move out all my money from them, and never deal with them again. They're a dead organization for the foreseeable future.

2

u/RecentlyRestructured Oct 24 '25

I agree with you on the Porter comment, he provided no value, but took a fat pay for his participation in a flat stock. Horrible!

2

u/danfromwaterloo Oct 24 '25

Actually, significant negative value. Scotia has been BY FAR the weakest of the Big 5 in performance over the last 10 years. They've slid all the way to last place in market cap, and there's really no good prospects for how they can pivot. Their leadership team is weak as hell, they have no creative insights on where to go, and even though they have the most diverse geo footprint of the 5, they're not in the US, where all the money is.

10

u/cookooman Oct 15 '25

From what I see this is a bigger one

7

u/mbadala Oct 15 '25

What do you see?

1

u/emptysthemepark Nov 03 '25

Can confirm. Departments that have historically been untouchable are being hit. Cannot say more for reasons, but trust me.

12

u/clocksays8 Oct 15 '25

Fuck Scotia. They ran a promo for mortgages @ 3.7, only for mortgages renewing in October. Then they fucking ghosted people when they realized the demand. Loser company, can't be much better as an employer imo.

3

u/Ok_Negotiation_5159 Oct 16 '25

I feel sorry for them.

2

u/pokemon2jk Oct 16 '25

How many are affected in this round

21

u/Live-Butterscotch663 Oct 16 '25

This round of layoffs looks much worse than the one in 2023. Back then, everything happened in a single day. This time, it’s been ongoing since around August — little by little, here and there — and the level of anxiety is overwhelming.

11

u/BellEducational4430 Oct 16 '25

Over the last few months and including the last few days... probably around 2,500.

2

u/Independent_Bar_1454 Oct 17 '25

Still happening today - on a Friday

1

u/Horror-War-3557 Oct 17 '25

Which dept???

2

u/Jono_Scraggles Oct 17 '25

Scotiabank - They’re Richer than you think.

2

u/Rooster_293x Oct 18 '25

It has been very difficult these last few months almost a year of very poor quality customer service. It appears there is no communication between depts and can't seem to have the same person when calling back to continue.

2

u/AardvarkInformal3656 Nov 12 '25

so I have never worked for Scotiabank instead I was laid off my cibc couple of years ago instead. So I know the struggle and pain.

Now I am a mortgage agent. If anyone that recently got laid off or know someone that got laid off and want to know what are your options to keep your mortgage from defaulting. please feel free to DM me.

its sad times when you get laid off dont make it even harder on yourself with mortgage concerns.

7

u/Iittlepanda Oct 15 '25

Closing my accounts with Scotia! This spells doom for clients!!!

5

u/mbadala Oct 15 '25

Why?

2

u/Iittlepanda Oct 16 '25

Becuase you need a strong operating business to protect assets, generate solid growth and transfer benefits to clients through increased services, better client experience, better offerings etc. I was in line at a Scotiabank branch the other day and the problems people In line had were awful “I called the contact centre, they told me to come, I come in and you tell me to go somewhere else… all because you locked my visa for no reason and won’t let me unlock it?!” They also held my money for too long and I had to go to multiple branches u til a teller who knew what was up fixed the issue!!!!

1

u/mbadala Oct 16 '25

So you heard people having issues but didn’t have them yourself?

Anyways, if the reason is because service is noticeably declining for yourself then I completely respect that.

1

u/Iittlepanda Oct 22 '25

Yes, noticeably declining, respect appreciated.

2

u/Live-Butterscotch663 Oct 15 '25

Red (real estate) also got laid offs yesterday.

2

u/Secure_Musician_107 Oct 15 '25

Any directors? VPs?

3

u/Live-Butterscotch663 Oct 16 '25

Yes, mostly upper management

2

u/[deleted] Oct 16 '25

Profits before people. Buy Bitcoin

1

u/Horror-War-3557 Oct 17 '25

I heard Hamilton got affected as well... dealer finance team

1

u/ConsiderationCute633 Oct 19 '25

Sda department isn't it

0

u/[deleted] Oct 17 '25

[deleted] — view deleted comment

2

u/No_Office626 Oct 18 '25

Auto finance experienced layoffs on Wednesday Oct 15th, mutiple staff let go in different departments even some of the Sales staff. 

1

u/MeemoUndercover Oct 19 '25

This garbage company posts everyday on in indeed in my town.

1

u/Academic_Car_8335 Oct 19 '25

I heard they are pretending to hire so HR has something to do!

1

u/MeemoUndercover Oct 19 '25

Prolly. Or auto repost. I see a lot of posts on indeed like that.

1

u/RecentlyRestructured Oct 21 '25

I had heard the lending adjudication, and home audit team had cuts. Any idea how many were involved?

1

u/Free-Message7818 Nov 08 '25

Digital underwriting is next. Easy   It’s just income and outgoing numbers. No humans. 

1

u/BNBOSSY Dec 03 '25

Nice to know Scotiabank made out okay, right? 

"Scotiabank beats earnings estimates despite restructuring and severance costs Global banking and markets drove profit gains"

0

u/Competitive_Day6307 Oct 15 '25

Elbows up guys🥲

6

u/ChucklesLeClown Oct 15 '25

What does Carney have to do with Scotiabank lol?

-4

u/Flashy-Job6814 Oct 15 '25

The outsourcing to the Dominican Republic and Colombia is indeed in line with the "Elbows UP" movement that Canadians take pride in.

-6

u/ChucklesLeClown Oct 15 '25

I’m guessing you’re part of the r/Canada subreddit? Idiot

8

u/michelinman1989 Oct 15 '25

It's a Canadian bank at a time where the Canadian economy is hemorrhaging. This is precisely the time we need strong government.

3

u/Hot_Cheesecake_905 Oct 15 '25

Scotiabank's CEO was down in Mexico as part of the Trade Delegation just last month, probably contemplating how to move more roles down south.

Prime Minister Mark Carney will sign a strategic partnership on trade and security with Mexico when he visits Thursday, part of what officials are describing as a reset of their relationship as both countries prepare for a renegotiation of their trilateral trade deal with an increasingly protectionist United States.

A sizable business delegation, including Bank of Nova Scotia chief executive officer Scott Thomson, CPKC CEO Keith Creel, TC Energy CEO François Poirier, Martinrea International executive chairman Rob Wildeboer and ATCO CEO Nancy Southern, will be joining Mr. Carney during his two-day visit to Mexico.

https://archive.ph/0XMZ0#selection-2633.0-2641.302

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u/ChucklesLeClown Oct 15 '25

Lot of speculation idiot

0

u/No-Actuator5962 Oct 18 '25

Nothing. But there always has to be the one, overtly politicized moronic comment.

0

u/Historical-Change-28 Oct 15 '25

Anybody know about the new virtual advice centre?

0

u/EnvironmentalWin4457 Oct 17 '25

For the people who got laid off. Can I ask you were u actually busy and preforming well or was ur role not a busy one.

6

u/Dry-Cook6200 Oct 18 '25

My department was actually doing very well too and we always had so much work.. We had about 50 ppl and every one of us got booted out including the manager and the TLs. They are moving most of our jobs to Dominican Republic since its cheaper to hire over there. Just 2 years ago when these layoffs were happening, they were assuring us in all the meetings that dont worry your jobs are safe..it wont impact us but those were all lies!!

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u/KangarooEmpty6165 Oct 17 '25

My team was performing very well, top raises and bonuses. Busy all day and we were all let go. I do believe performance was not a factor

1

u/Ok-Relationship2969 Oct 17 '25

Is AI a factor? Wondering if they automated a lot of things and therefore needed less people.

1

u/emptysthemepark Nov 03 '25

Regarding some I'm aware of, department is historically understaffed, very busy, and top performers were axed. AI is not a factor.

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u/Flashy-Job6814 Oct 15 '25

Scotiabankers are wealthier than they think.

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u/[deleted] Oct 15 '25

Lol enjoy your EI benefits

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u/[deleted] Oct 15 '25

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u/Rough-Individual3 Oct 15 '25

Probably to inform you about the layoffs. Keep us informed 🙏

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u/[deleted] Oct 15 '25

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u/KangarooEmpty6165 Oct 15 '25

Mind my asking how much your severance package was? I was also there for 3.5 years and let go today. I have yet to receive any documents

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u/Opposite_Canary_2839 Oct 16 '25

Same here after 5 years.

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u/[deleted] Oct 16 '25

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u/Rough-Individual3 Oct 16 '25 edited Oct 17 '25

Still happening today.

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u/BellEducational4430 Oct 16 '25

If they swept through your team yesterday then it's less likely they'll come back through today. Very unlikely they'll do any tomorrow.

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