Thread regarding Toronto-Dominion Bank layoffs

Will there be more?

A bunch of people were laid off last week–week of 10/21/2019.

Anybody knows if there will be more any time soon?

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Post ID: @OP+11L8VqRB

9 replies (most recent on top)

The Mississauga offices aka creekside are toast anyways, they will all close soon , and the higher gig jobs will be moved to the new monolith that will be built on front street. The lower level admin roles... doesn’t,t take a rocket scientist to figure out where that is going next....
That said they have just closed/reversed a outsourcing to India call centre and jobs are now being opened out east, for now.... wait till the tax credits run out....

Everything is for sale folks, as of Jan 2020 Td is once again cleaning house for more than just the stockholders, major secret merger and acquisition moves and share buybacks are currently underway.... both to buy and to sell us.... Td Ameriatrade
was just the start... The butcher Baratheon has us under a sticky wicket to be sure..

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Post ID: @1kegf+11L8VqRB

Toronto
Media and news outlets should investigate TD Bank and it’s Technology Management teams for corruptions and friends hiring practices. Most of the leaders in the technology area who’s Indian background will only hire their race. If you dont believe this statement, please go investigate their establishment in the TD offices in Mississauga Ontario and the downtown core office. It’s all run by Indian background people. Non india people dont stand a chance to get promoted. An Indian SVP has hired several if his Indian VPs and
Indian AVP will only hire his next level Sr Managers being Indian and so on and so forth... this is no joke the hiring patterns. No differences than going to the Toronto airport and seeing all Indian people
Running the airport jobs from mid level jons to bottom jobs.

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Post ID: @Alhu+11L8VqRB

This is reality.. corruption at the top level executive. They send this type
Of email before end of fiscal year. Laying off people in the lower level management jobs just prior to the holiday seasons. Gutless move. TD pride on their workplace culture and caring for the employees is all a farce.
The bottom line is greed. Executives get their massive deep picket bonuses meanwhile the little guys get the boots and low
Pay for doing their dirty work.

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Post ID: @Avsj+11L8VqRB

If you get canned you will be pretty much shut out of anything else....they want to hire cheaper people and the ones with 10-25 yrs have the biggest salaries, benefits and pension liabilities...it is all about making next 1/4 targets to get the bonus ...pretty soon people will be sharing seats and laptops

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Post ID: @zeyj+11L8VqRB

I got laid off on Nov 28, 2019 from TD after 3 years

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Post ID: @zedp+11L8VqRB

The email is legit. Layoffs are ongoing. Salary reductions are the only thing propping up the bottom line.

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Post ID: @9gif+11L8VqRB

To: TD Technology Solutions, Enterprise Operational Excellence and Enablement, and Project Delivery Groups

From: Michael Rhodes, Group Head, Innovation, Technology & Shared Services

Subject: Evolving our operating model

Version française ci-dessous.

Our vision to be the better bank means we're always looking for a better way to do things. Today, we are focused on meeting increasing customer demands and staying competitive in the continually changing market. To achieve this, we are looking at ways to drive new investment, helping us win in the digital age.

Over the past six months, we have been working with business and technology teams to identify opportunities to streamline how we work. Specifically, we have launched a series of initiatives designed to simplify and evolve our delivery processes and make it easier for our colleagues to support our customers and business partners.

We anticipate there will be changes to roles and responsibilities, which will result in a small proportion of jobs being eliminated. We will also create new capabilities and opportunities. Where we can, we will redeploy impacted individuals into other positions across TD, but this will not always be possible. In all circumstances we are committed to treating all our colleagues fairly and respectfully.

I recognize that change is not always easy. Throughout this process, your leadership team and I are committed to supporting our colleagues and providing access to the tools and skills necessary to build the capabilities to succeed. We will keep you updated on progress and changes that involve our organization.

I know that I can count on you for your continued focus on our customers and colleagues as we work through these changes. Should you have any questions, please feel free to reach out to any member of your leadership team.

Michael

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Post ID: @2mkl+11L8VqRB

There were a bunch of layoffs today (31st oct) as part of Tech restructuring.
More layoffs coming in the first few weeks of novemebr

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Post ID: @2pjp+11L8VqRB

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