Scotiabank Reported Restructuring Leads to Job Cuts Amid Return-to-Office Push

What’s Going on at Scotiabank?

Scotiabank is reportedly restructuring its Canadian operations, resulting in job cuts across multiple divisions. While exact numbers and divisions have not been confirmed in Canada, the bank has already reduced roles in its US and Asia-Pacific investment banking teams.

The layoffs come just weeks after Scotiabank required many staff to return to the office four days per week, adding pressure for employees already facing uncertainty about their future.

This latest move has already prompted a number of Scotiabank workers to reach out to Samfiru Tumarkin LLP for advice about severance pay and employment rights. For non-unionized employees in Canada, a layoff or termination often comes with significant legal entitlements — in many cases up to 24 months’ pay.

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Your Severance Rights as a Scotiabank employee in Canada

If you’re let go from Scotiabank — without cause, for cause, or as part of a broader restructuring — you may be owed up to 24 months’ pay as severance. This amount includes:

• Salary
• Bonuses or commissions
• RSUs, ESPPs, and stock awards
• Pension and benefits contributions
• Vacation pay and allowances

What to Do If Scotiabank Cuts Affect You

Whether you’ve already been let go or suspect it’s coming soon, here’s what to do right now:

1. Do not sign anything without legal advice — severance packages in Canada are often inadequate.
2. Collect documents, including your employment contract, offer letters, termination notices, text messages, and internal emails.
3. Use our FREE Severance Pay Calculator to estimate what you’re actually owed.
4. Talk to Samfiru Tumarkin LLP employment lawyer who understands the tech sector.

Protect Your Career — Before It’s Too Late

At Samfiru Tumarkin LLP, we’ve helped over 50,000 Canadians — including Scotiabank employees and staff at other companies operating in Canada — recover tens of millions of dollars since 2007.

Our nationally recognized employment lawyers across Canada successfully challenge unfair terminations and negotiate stronger severance packages — often over a short period of time.

📞 Call us today at 1-855-821-5900 or request a consultation online.

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.