Scotiabank Slashed 3,000 Jobs to Close Out 2025, Part of Restructuring
What Happened at Scotiabank?
The Bank of Nova Scotia (Scotiabank), one of Canada’s big banks, revealed at an event on Jan. 6, 2026 that approximately 3,000 roles were axed late last year as part of a restructuring program.
“The restructuring charge [disclosed in our recent quarterly report], which was a multi-month, probably multi-quarter effort to make sure that we did this the right way, was significant,” CEO Scott Thomson said.
Check out our Scotiabank Layoffs & Severance page for more information on the workforce reduction and the rights that non-unionized employees have.
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Lost Your Job? Get Help Now
📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.
Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.
If you’ve lost your job at Scotiabank for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.
Contact your union immediately. By law, employment lawyers can’t represent unionized employees.
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.
About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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