CPP Investments to Lay Off Dozens in Equities Restructuring

CPP Investments is reportedly laying off dozens of employees as it restructures its Active Equities division, according to reporting published on November 10, 2026. The Toronto-based investment manager is merging the department with its Capital Markets and Factor Investing team after several years of underperformance.

The Globe and Mail reported that the cuts would affect a significant portion of the Active Equities team. Some employees may move into other roles, but the organization hasn’t confirmed a final layoff count.

The restructuring creates a new department called Active Public Markets, led by Heather Tobin. Frank Ieraci, who previously headed Active Equities, will step back from the organization and remain a senior adviser through the end of 2026.

CPP Investments confirmed the reorganization in its November 10 financial and operational update.

What Are Laid-Off CPP Investments Employees Owed?

Employees terminated without cause can be owed substantial severance, including compensation for bonuses, deferred incentives and benefits. Their full employment arrangements should be reviewed before accepting an offer.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and should not be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.