Scotiabank is laying off approximately 3% of its employees worldwide.
In the third quarter, the Toronto-based bank had just over 91,000 employees.
The financial institution says these reductions are the result of changes within the bank and in customers’ daily banking preferences, as well as its efforts to streamline its operations.
Scotiabank added that it will take charges totaling $590 million after tax in the fourth quarter related to the reductions and other changes it is making.
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