Thread regarding Toronto-Dominion Bank layoffs

TD to close 82 U.S. bank branches as COVID drives digital growth

Toronto-Dominion Bank said it will close 82 bank branches in the U.S. as part of a “store optimization” in its American unit, where net income dropped in the fiscal first quarter.
Greg Braca, chief executive officer of Toronto-Dominion’s TD Bank U.S. unit, announced the number of closures during the company’s earnings conference call Thursday. Toronto-Dominion said in a filing earlier in the day that earnings at the U.S. retail bank fell 16 per cent to US$615 million, including a 6 per cent increase in expenses that was primarily the result of branch closures.

| 2274 views | | 1 reply (last )
Post ID: @OP+19EUeg59

1 reply

There is no "Digital Enhancements" from what TD bank wants to so-call call it. TD bank is so far behind in technology as oppose to other Banks – Bank of America, Wells Fargo and etc. It was due to Covid that they were not making any profits for the shareholders, thus, in turn, had to lay off several employees and close several branches to compensate the top shareholders, as well as, the top executives.

Post ID: @1pax+19EUeg59

Post a reply