Another round of job cuts has been announced at Scotiabank, reflecting the changing habits of consumers. No exact numbers or roles have been identified as at risk but the big banks have been reducing staffing at branches as customers increasingly use online services. At the lender’s annual general meeting this week CEO Brian Porter forecast that by 2020 the share of financial products sold online would reach 50 per cent while in-branch transactions would fall to lower than 10 per cent.
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
