Scotiabank has sought federal government approval to layoff up to 2495 employees this year. Look for yourself. It is on the government website
https://search.open.canada.ca/qpnotes/record/esdc-edsc%2CLabour_JUN2025_008
16 replies (most recent on top)
@4hc whole scotia recruitment process is scam..should complain against the recruiter, intentionally trying to put the candidate in lower level positions, blocking them from potential positions. This is the only company where hiring manager doesn't have a say..whole recruitment is a joke..
That vp with bad hiring practices - that whole area is bizare. The full timers are all friends bringing in more friends and even contractors are friends. The cliques make it impossible to grow.
Investment support just got gutted today 😢
Anyone who works at Scotia knows there are too many contractors. Many are from india based firms. The use of contractors... especially in the IT department grew exponentially in the past 5 years. There is a VP at the 2201 eglinton office, who hired from a specific agency. Lots of rumours about her hiring practices. Her staff are afraid to report it. Scotia needs to do a purge of these contractors and hire Canadians.
Layoffs just took place this week.
@39w which department? GRM? how many laid off?
We have layoff at our department for almost 10%
Executives have been let go. Stay tuned...it will work down to the "working level". Scotia is bloated.
@gv I thought I heard IT staff were laid off in June. Cant imagine it was over 2000 employees though, I feel like that number would have made some news
Scotia stopped using an agency that suppied IT contractors. Contractors were primarily indian. The hiring manager was using this agency almost exclusively. She was ordered to stop. Very suspicious...
Too many contractors...especially in the IT departments. Scotia needs to stablize its institutional knowledge brain drain...less contractors. Especially at 2201 eglinton.. way to many contractors.
The date of the memo just means that the bank has a pre-approval for any purge they want to do in 2025 as it is an authorization up to 2495 employees. Doesn’t mean they have to execute it by June 1st.
Oddly I don't recall massive layoffs at the start of June, yet that was around that time when the very rigid return to office mandate was announced.
Are you sure? The link says June 1, 2025.
It is not the big one yet! Most of the layoffs yesterday and today are in leadership Director, VP+ positions the workforce will follow shortly.
It started yesterday Sept 3rd