We are entering into Q2 and should expect to see larger cuts to FTEs IT&S is expected to see cuts to bloated divisions. Expect the SVPs to make cuts to directors within divisions. Some directors have gotten away with little or no work. The time... — read more
Our VP said employees will still get payouts (bonus etc). It will be less than previous years. I was worried we wouldn't get any bonuses because of the cuts to the contractors. Scotiabank thanks for looking after us as we look forward to this bonus... — read more
There was some talk about a round before the end of the year, what happened to that?
Scotiabank is preparing to cut it's FTE staff in the new fiscal year as departments prepare the new budgets. The bank has already determined which contractors to cut including rates. Management meetings are on-going to determine which FTEs to cut... — read more
Scotiabank is reducing its contractors this fiscal year. Any contractor that has been with the bank for more than 24 months are being told to leave. They will recall those that they want albeit at a 10-15% rate reduction (at a minimum from their... — read more
Like all Canadian FI’s, BNS started its plans late and badly. The word started get out that there were “changes” coming shortly after Brian Porter took over followed quickly by a senior executive purge. Then about a month later the real changes... — read more
What I don't understand is the selection process for layoffs ... there are a couple people I know that have stellar reviews - Superior annual reviews, Best of the Best awards, etc. yet they're still laid off while someone else within the department... — read more
I worked for a division of scotiabank as a supervisor. The upper management team was horrible and disrespectful and seemed to take great pleasure in putting us down and literally making us cry. They never wanted to listen to those on the front lines... — read more
Where was the so called vision of the directors at seeing the upcoming threat of Fintechs? They start the restructure at the expense of employees when the Fintech threat is inside the doors? I would like to see Porters face after 2 years
How can this bank justify cutting important jobs. We have had the same person doing our banking for 15 years... we have a business, we have a mtg. with this bank & they cut this person's job... makes no sense... we will be changing banks... you're... — read more
Used to be a great place but ever since Brian Porter came around its been a sh-- show! The training sucks, employees aren't given the training they need. No ones there to help. It sucks for employees that actually work. They should get rid of the... — read more
Management is horrible! Branch managers don't tell their employees anything and keep reassuring them that their fine. No one knows! Another thing I'd like to understand is that the bank is trying to work with technology which I totally get as I'm a... — read more
I had a training session yesterday (which had been planned months ago), which included staff from several departments. The news were dark everywhere. Seems like all departments were on edge and employees were expecting the worst. I know in my... — read more
We have been advised to find our own job. Regardless of years of experience or level. They would rather see us go to other FIs.
Very few of us haven't experienced this rite of passage over our careers. It has never been more important to have a Plan B. Employers don't take care of this for you. I too was a middle management bank employee with a post-graduate degree and years... — read more
People news reporters love to be making news and blowing things out of proportion! Scotiabank will give every opportunity to find you a replacement job when a position is redundant!They are actually hiring advisors and training as we speak! If an... — read more
It's poor management, Scotiabank on the retail side really does not know what they are doing, our execs are clueless
Why not just look for another job instead of waiting for your turn, we all know layoffs will continue? If you are in the back office you are hosed. It is possible you will be laid off eventually or later on down the road, you've only survived that... — read more
Layoffs all areas.
Many folks are simply shocked, it's hitting the back office support staff the most. I have not anticipated this, Scotiabank was good to me and I hope that I will not be hit this time around. I hear that TD is cutting resources today too, this is not... — read more
Do you think that Scotiabank will continue to have layoffs in 2015 and 2016. I know that many people are anxious but I can tell you that I feel that the worst is over and that we will not be having any layoffs soon.
I hear that we might be spinning off some units and that some shared services and IT functions will be shipped out. Scotiabank used to be a great place to work at but recently things are not working out really well for us, we'll continue to lose... — read more
I think we are somewhat luck here at Scotiabank as we did not suffer much of outsourcing related layoffs. If you look around, most major banks had significant cuts in back office staff, call centers, IT operations, etc. We did let some people go but... — read more