I’m not sure about the person commenting who got their bonus but the ratio was noted this week not the actual bonus. It’s 88% for Scotiabank and 110% for RBC which means Scotiabank employees will get 88% of the bonus they will normally get.
It also means that Porter will slap and cut the rates of contractors many of which were forced to take 35-45% rate cuts even further. After all contractors are “richer than you think”. Contractor jobs especially project manager roles are potentially moving to Colombia in the new year.
Departments with too many level 9s and 8s without underlying staff (including directors without too many FTEs and mostly contract staff) are set to be cut as well. The gravy train of slow work and inefficient work for these employees is over.
Also as noted and confirmed cuts are coming mainly to level 9s and 8s. Anyone who is a level 6 or below is safe at this time.