Scotiabank will lay off 3% of its workforce.

 

Scotiabank is reducing up to 3% of its global workforce as part of an ongoing drive to optimize banking services and operations. It also took a variety of charges, including $590 million, or about 49 cents per share, after taxes, for fourth-quarter cuts and other modifications. Includes a $280 million after-tax impairment charge for the stake in Bank of Sian Company Limited and its intangible assets. More information will be published when the fourth quarter results are released on November 28, according to officials.