Manulife set to cut 700 jobs, close Kitchener office

What’s happening at Manulife?

Manulife is planning to eliminate around 700 jobs in Canada across a span of 18 months as it seeks to reduce costs and combine various portions of the business.

Currently, the insurer and financial service provider employs a national workforce of more than 13,000 people.

In a news release on June 21, 2018, Manulife said staff reductions will be focused on their customer experience and administrative teams, where it aims to introduce digital processes to customer interaction.

“We are transforming our business to become a customer-centric market leader, which includes a focus on digital innovation and operational efficiency to ensure we remain competitive and make it easier for customers to do business with us,” said Michael Doughty, President and CEO of Manulife Canada.

The company is also closing its office in Kitchener, Ontario and create one Canadian division headquarters in Waterloo, Ontario.

Manulife added that it plans on retraining some of the affected employees.

Employee support and next steps

Non-unionized employees in Canada affected by layoffs may be eligible for severance pay, which is determined by several factors, including role, tenure, and age.

Key facts about severance:

• Severance Pay: Can include up to 24 months’ pay in some cases, depending on specific circumstances.
• Components: Severance packages may include salary, bonuses, commissions, and other forms of compensation. Use our free Severance Pay Calculator to estimate what your package should look like.
• Deadlines: Employees have up to two years from their termination date to review and negotiate severance entitlements. Deadlines set by employers for accepting severance offers are not legally enforceable.
• Need guidance? Contact Samfiru Tumarkin LLP for a severance review and expert advice.

Employees affected by the layoffs at Manulife can find additional details about their rights and options in our Manulife Layoffs resource.

WATCH: Employment lawyer Lior Samfiru explains general severance rights on an episode of the Employment Law Show.

Lost your job? Talk to an employment lawyer

If you have been fired or let go for any reason, contact the experienced employment law team at Samfiru Tumarkin LLP. Our lawyers in Ontario, Alberta, and B.C. have successfully represented tens of thousands of non-unionized individuals.

In addition to severance package negotiations, we can assist you on a broad range of employment matters, including:

If you are a non-unionized employee who needs help with a workplace issue, contact us or call 1-855-821-5900 to get the advice you need and the compensation you deserve.