05.23.25

TD Bank To Lay Off 2% of Workforce in Restructuring

by: Nivedita Balu; Arasu Kannagi Basil

TD Bank will lay off 2% of its workforce to cut costs and scale up its digital and AI investments, as the bank restructures under new CEO Ray Chun. The restructuring follows TD's anti-money laundering settlement in the United States that lead to several changes, including a new CEO. TD did not say if the layoffs were predominantly in the United States or Canada.

Read the full article on Reuters