Manulife Cuts 250 Jobs in Wealth and Asset Management Division

What’s happening at Manulife?

The global wealth and asset management arm of Canada’s largest insurer is scaling back its staffing levels. According to multiple news outlets, Manulife Investment Management has eliminated 250 jobs — approximately 2.5 per cent of its total workforce.

A spokesperson told Reuters that the layoffs are limited to the company’s offices in Canada, the U.S., Britain, and Asia. It remains unclear if any Canadian employees have been let go.

The reduction comes roughly a month after Desjardins cut around 400 jobs due to the “current economic context.”

At the end of 2022, Manulife had more than 40,000 workers globally, according to its website.

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