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Scotiabank pulls back on headcount, ups tech spend by 12%

Tech spend increased to $3.4B in fiscal Q4

Whitney McDonaldbyWhitney McDonald
November 28, 2023
in Banking
Reading Time: 3 mins read
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Scotiabank reduced its headcount and branch footprint in its fiscal fourth quarter while upping its investment in technology as part of its restructuring initiatives to pull back on costs.  The Canadian bank’s headcount fell 2% year over year to 89,483 and total branches also fell 2% YoY to 2,379, according to the bank’s earnings supplement […]

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