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2025-11-06 02:43:55
A memo reveals that, in response to Prime Minister Carney's call for austerity measures, the Bank of Canada plans to initiate layoffs in the coming months, affecting approximately 225 employees, or 10% of its total workforce. The layoffs are scheduled to be completed by the end of June 2026. This is part of the bank's efforts to achieve its goal of cutting budget costs by 10% by the end of 2026. In addition, the bank is committed to achieving a 15% budget cut between 2026 and 2028 and has pledged to further reduce corporate spending by 5% by the end of 2028.
