Staff cuts could soon be coming at TD Bank as the lender warned it expects to incur more organizational restructuring costs next quarter.

In its earnings release Thursday, TD provided more details on a corporate restructuring program it announced in May. The bank said its profit for the three months ended Oct. 31 fell to $3.3 billion from the same period last year, following a restructuring charge.

Also Thursday, CIBC and BMO reported financial results for the quarter. All three banks’ earnings beat analysts’ expectations, despite economic uncertainty around U.S. tariffs.

Earlier this year, TD executives disclosed that the bank would be slashing two per cent of its workforce to cut costs and refocus spending under new CEO Raymond Chun, who became the head of the bank in February.

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