Skip to main content

Featured

Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
Post a Comment
Read more

article

Labels

Statistics Canada Begins Major Workforce Overhaul, Cutting 850 Positions

 

 Statistics Canada says it will be cutting around 850 of its staff along with 12 per cent of its executive team.


Statistics Canada is moving ahead with a major restructuring that will see roughly 850 jobs eliminated, including a portion of its executive ranks. The agency confirmed that it has entered a formal workforce adjustment period, with affected employees set to receive notices over the next two weeks.

The cuts are part of a broader federal initiative to reduce public service spending. With more than 7,200 employees as of early 2025, Statistics Canada is among several departments facing significant downsizing as the government seeks long‑term budget efficiencies.

Union representatives have raised concerns about the impact on the agency’s ability to maintain the quality and timeliness of national data. Management, however, has emphasized that voluntary departures and early retirement incentives will be used where possible to ease the transition.

The announcement marks one of the most substantial staffing reductions in the agency’s recent history and signals further adjustments across the federal public service in the months ahead.

Labels:

Comments

Post a Comment