RBC to Cut About 450 Jobs in Toronto Area

The transcript discusses RBC's decision to cut jobs in Toronto, affecting less than 1% of its workforce. The move is part of a strategy to save costs and reinvest in digital technology, reflecting the shift in consumer banking habits. While new technology jobs may be created, details are scarce. The affected positions are mainly administrative, and employees will receive severance packages.

What percentage of RBC's workforce is affected by the job cuts in Toronto?

• 10%

• 5%

• Less than 1%

• 15%

What is the primary reason for RBC's job cuts?

• To expand their physical branches

• To invest in new technology

• To reduce their customer service staff

• To increase their marketing budget

Where might the new technology jobs be created as a result of RBC's reinvestment?

• Calgary

• Toronto

• Montreal

• Vancouver

What type of jobs are primarily being cut by RBC?

• Sales positions

• Consumer-facing jobs

• Administrative positions

• Technical support roles

What support is RBC providing to the employees who are laid off?

• No support

• Job placement services

• Severance packages

• Retraining programs