Toronto-Dominion (TD) Bank is scaling back its staffing levels as part of an ongoing restructuring.
Sources told The Globe and Mail that the job losses affect several divisions, including direct investing, risk management, and corporate functions.
In addition to the workforce reduction, some of the bank’s teams won’t return to the office on a more full-time basis until early 2026.
“We continue to progress with our plans to increase the amount of time colleagues are spending together in-person, in line with our previously announced plans to adopt a four-day, in-office model,” spokesperson Meghan Thomas said in an email.
“Our executives have already moved into this model and starting in November, non-executive colleagues will return to a four-day minimum, with some phased in transitions by region or business.”
In May, Canada’s second-largest lender announced plans to reduce its workforce by approximately 2%.
SEE ALSO
• TD Bank Ramping Up In-Office Work for Certain Staffers in October
• Layoffs in Canada: Which Employers are Slashing Staff?
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