The Desjardins Group is laying off employees again. At least 400 employees learned last week that they would lose their jobs.
• Also read: Desjardins lays off 176 people in Montreal
• Also read: Desjardins will increase certain account fees by 22%
The cuts primarily affect professionals such as analysts. You will be unemployed in a few weeks.
They work in Lévis at the headquarters and in Montreal at the Complexe Desjardins or the Olympic Stadium.
“We had to make difficult decisions,” a spokesman, Jean-Benoît Turcotti, told the Journal.
The majority fall under the Fédération des caisses Desjardins, the organization that supports Quebec’s credit unions.
This wave of layoffs comes three months after the one in July, when 176 people lost their jobs at Desjardins.
The majority again came from the Federation.
Desjardins’ profit before discounts reached $895 million in the first six months of the fiscal year (as of June 30).
“In an organization the size of Desjardins, there are regular adjustments within different teams,” the spokesperson added.
In Quebec, 53,000 people work for the Desjardins Group, which employs a total of 58,000 people.
2700 jobs lost
Scotiabank also announced 2,700 layoffs on Wednesday, representing 3% of its global workforce.
The Toronto-based bank is one of the “big five” Canadian banks and employs 90,000 people.
To reduce the number of its employees, it is calling for “total digitalization and empowerment initiatives.”
Scotia is the country’s fourth-largest bank by market capitalization at $70 billion.
Profit was $2.21 billion in the quarter ended July 31, down from $2.59 billion a year earlier.
Can you share information about this story?
Write to us or call us directly at 1 800-63SCOOP.