Canada's TD Bank to Lay off 2% of Workforce in Restructuring

TD Bank on Thursday said it would lay off 2% of its workforce to cut costs and scale up its digital and AI investments, as the bank restructures following its historic anti-money laundering settlement under new CEO Ray Chun.

The layoff involving some 2,000 employees is part of a new restructuring program that will help TD save up to C$650 million ($470 million) annually, including winding down its point of sale financing business in the U.S.

https://money.usnews.com/investing/news/articles/2025-05-22/canadas-td-bank-profit-falls-on-hit-from-higher-bad-loan-provisions

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@ek I have a friend who applied for a TD job posting and had an interview with TD last week for a role in one of the branches. During the interview they were told that there wasn't an open position, but they gave the person an interview because the recruiter sent the branch the resume. Why are they posting jobs, using the services of recruiters and giving people interviews for jobs that don't exist? Makes no sense to me.

Applying for jobs posted but not being filled for months or ever. Such a joke.

Are these a mix of Canada and US employees?! Or more for one over the other? And from what I’ve been “hearing” most people are getting notice and that same day is their last day but on TD’s books for 60 days while given the tools and opportunities for other positions within TD or elsewhere.

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Canada's TD Bank to Lay off 2% of Workforce in Restructuring

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