RBC Lays Off Employees After Segment Shakeup, Sources Say
RBC has laid off some employees as a result of changes at its business segments following the C$13.5 billion acquisition of HSBC's domestic business last year. The layoffs were reported to have started earlier this week, affecting various teams including technology and operations, personal banking, and commercial banking. The restructuring aims to better position RBC for future growth opportunities.
- The move reflects a broader trend in the financial industry where banks are undergoing significant transformations to stay competitive, raising questions about the impact on employee morale and job security.
- How will the ongoing changes at RBC influence its ability to maintain client relationships and deliver personalized banking services in the long term?