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.
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Posted 8/24/2023, 4:00:48 PM
yahoo.com
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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.