Bank of Nova Scotia BNS-T is laying off staff across its Canadian banking unit, part of the lender’s continued efforts to adjust its businesses through its multiyear turnaround plan.

In recent weeks, the bank has been shedding roles as it reorganizes the division to “accelerate the execution” of the strategic refresh it launched in late 2023.

“While I am increasingly optimistic for the future that we are creating together, I want to acknowledge that a transformation of this scale is not easy, especially when it means saying goodbye to valued colleagues,” Scotiabank head of Canadian banking Aris Bogdaneris said in an internal memo seen by The Globe and Mail.

“These are decisions that we never take lightly and that we manage with care and respect. On behalf of our team, I would like to

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