Scotiabank cutting jobs in efficiency push

Scotiabank signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj

TORONTO — The Bank of Nova Scotia is cutting jobs.

Spokeswoman Claire Dawson says in a statement that finding ways to be more efficient are a part of managing the bank effectively.

Dawson says the bank will continue to prioritize and invest in areas that best meet the needs of clients and deliver sustainable growth.

She did not provide details on the scale of the cuts.

In 2023, Scotiabank cut about three per cent of its global workforce, or about 2,700 positions.

The bank had 87,317 employees as of its third quarter, which ended July 31.

This report by The Canadian Press was first published Oct 17, 2025.

The Canadian Press