‘Next phase of growth’: RBC trims workforce to kick off March

What’s going on at RBC?

On March 10, Royal Bank of Canada (RBC) reportedly trimmed its workforce ahead of its March 27 investor day.

A source told The Globe and Mail that the cuts affected a variety of departments, including technology, operations, as well as the Toronto-based bank’s personal and commercial banking units.

Spokesperson Jeff Lanthier didn’t disclose the exact number of positions eliminated, but said in an email that the changes position RBC for its “next phase of growth.”

“We have promoted a number of colleagues, expanded responsibilities, and made stronger connections across our platforms,” the email reads.

“With these changes, some difficult decisions have been made and as a result some colleagues were impacted and left the bank.”

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