National Bank to cut 600 jobs, offer early retirements

MONTREAL – National Bank of Canada announced Thursday it is eliminating 600 jobs over the next year – nearly three per cent of its staff – and offering early retirements or other positions to another 300 workers as it tries to adapt to a technological shift in the financial services industry. About 70 per cent of the job losses will be centred in the bank’s base in Quebec, with the rest scattered across the country. About 50 people will be laid off per month, beginning Tuesday, the bank said. At the same time, the lender expects to fill 500 other positions over the same period, primarily in sales and service and information technology jobs.