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Old Posted Oct 23, 2015, 1:47 PM
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caltrane74 caltrane74 is offline
gettin' rich!
 
Join Date: Aug 2002
Location: Toronto
Posts: 34,167
Canadian Financial Markets Investments and Stock Trading Thread

Scotiabank is letting a few peeps go, relocating some to Toronto, should have a good run up today (BNS- TSE)

Taking off at the start !!!

1.10%

http://www.cbc.ca/news/business/td-b...bank-1.3284524

Quote:
Scotiabank is the latest bank to slash jobs during a time of healthy profits.

CBC News has learned that the company will be eliminating back office support staff jobs across the country. The positions typically involve paperwork for everything from commercial loans to account operations.

The cuts will come over the next two years as Scotiabank closes regional operations and consolidates the services into two high-tech hubs in Toronto.

The streamlining is part of an investment in new technologies that will help "reduce duplication, shorten turnaround times and minimize risk" for a better customer experience, said spokeswoman Sheena Findlay in an email to CBC News.

Scotiabank employs more than 87,000 people worldwide. Findlay would not say how many positions will be eliminated. A bank employee told CBC News that she estimates about 200 people will be affected in her region alone.

The worker said she and her colleagues attended a meeting last night where Scotiabank announced the news.
Let the money making begin!!!

Edit - I was gonna buy a few shares today, but I'd rather buy on some bad news, rather than on good news like this. lol! Push down the PE and raise the Yield a bit and then I'm in for sure.
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