RBC has cut jobs and is planning to cut more, bank reveals in quarterly earnings showing profit rise

The Royal Bank of Canada (RBC) has cut around 1% of its workforce in recent weeks and plans to cut an additional 1-2% in the near future, revealed in its quarterly earnings report, despite reporting increased profits and revenue growth in various divisions of its business.

cbc.ca

Relevant topic timeline:

8/24/2023

RBC reports $3.9Bn profit, says ramping up job cuts ahead of economic slowdown

Royal Bank of Canada plans to cut one to two percent of its full-time equivalent employees next quarter in order to reduce costs ahead of an expected economic slowdown.