Buckle up, it started already. The only question is are all the RBC layoffs going to be focused on headquarters only, or should those of us working in branches also start packing.
http://business.financialpost.com/news/fp-street/royal-bank-to-cut-450-jobs-in-head-office-revamp/wcm/44626476-4990-4c77-a502-55fd9cafa7b9
Good luck to those who were affected by these initial cuts.
Layoff number is not just 450. But in thousands from business staff and business support staff across the board.
Nothing personal but the overall banking business is changing because of disruptive technologies, cloud, automation etc. The banks have to survive in this changing market and they have no alternative except to let go off people. Banks like TD, Scotia, RBC, BMO, HomeTrust etc. will soon give the same news in more and more numbers. Folks the market itself is changing and the banks are forced to change, again its nothing personal.
http://www.cbc.ca/news/business/cibc-ceo-outsourcing-india-1.4050248
Does anyone have any more info?