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EQB Inc. Cuts 8% Workforce Amid Restructuring Efforts

10/24/2025

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Summary

Story summary

EQB Inc. will cut 8% of its workforce in a restructuring led by CEO Chadwick Westlake.
The Toronto-based bank seeks efficiency gains and higher-return lines, with about $85 million in pre-tax charges.
The charges include $20 million for restructuring and severance, and $65 million for impairment.
The layoffs follow a share-price drop after weak earnings and reflect broader Canadian bank cuts, including Scotiabank.

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Story summary

EQB Inc. will cut 8% of its workforce in a restructuring led by CEO Chadwick Westlake.
The Toronto-based bank seeks efficiency gains and higher-return lines, with about $85 million in pre-tax charges.
The charges include $20 million for restructuring and severance, and $65 million for impairment.
The layoffs follow a share-price drop after weak earnings and reflect broader Canadian bank cuts, including Scotiabank.