Bank layoffs in Canada: Here's what it could mean, according to experts

Job layoffs across the banking industry have been making headlines in recent weeks, but what exactly is driving the cuts, and where are things headed? Just last week, Desjardins laid off nearly 400 employees and Scotiabank announced it would cut three per cent of its global workforce, or around 2,700 staff. In September, the Royal Bank of Canada (RBC) made a round of job cuts in its capital market operations, with plans to cut two per cent of its full-time equivalent staff in the coming quarter.