RBC restructures operations post-HSBC Canada acquisition, leading to employee layoffs across various divisions

The exact number of impacted employees remains unclear, and it is uncertain if further layoffs will occur. RBC restructured its personal and commercial banking divisions into stan

Canada's largest lender Royal Bank of Canada laid off some employees as a result of changes at its business segments following the C$13.5 billion acquisition of HSBC's domestic business last year, two sources with direct knowledge of the layoffs told Reuters.

Royal Bank of Canada RY-T has let go of some employees as the lender reorganizes its businesses and prepares to launch its new growth strategy after closing its $13.5-billion takeover of HSBC Bank Canada last year.

Royal Bank of Canada (RY) has laid off some employees as a result of changes at its business segments following the acquisition of HSBC‘s (HSBC) domestic business last year for C$13.5B, Reuters’ Nivedita Balu reports.