Big layoff of Canadian banks?

We all know what is going on in the USA. How about Canada? Will big-five lay off people very soon? Their stock price dropps more than 50% compared with one year ago…any thoughts? RBC, TD, BNS, BMO,CIBC…

GMP already let go 37 staff and - I believe thats just the tip of the iceberg. Thats equivalent to Royal or CIBC turfing 2 or 3 THOUSAND people. Willy

Will the big banks pay fat cheque to these layoff people as severage, such as 3-6 month salary? Anyone knows?

the decimation in canadian resource stocks has been unbelievable (like alot of other sectors, but generally worse i’d say)… just look at cameco, suncor, sherritt etc. good news is that canadian banks were huge players in resource financing like gmp, canaccord, sprott, orion etc. (yes, i’m using old names here). i guess bmo was pretty big. anyway, good thing is that canadian banks were huge players in most of the areas that are getting absolutely killed. should be some layoffs but i’m not thinking enormous. at the bank-owned dealers, the layoffs may get pretty substantial as % of employees