The Laurentian branches in Fort-Coulonge and Campbell’s Bay are two of six branches that will be closing next year. The changes will be made in order to maximize their operating efficiency.
Allyson Beauregard
The Laurentian branches in Fort-Coulonge and Campbell’s Bay are two of six branches that will be closing next year. The changes will be made in order to maximize their operating efficiency.
Allyson Beauregard
FORT-COULONGE & CAMPBELL’S BAY – In a letter sent to its employees, Laurentian Bank recently announced it will be closing six of its branches in May or June next year; this includes both the Fort-Coulonge and Campbell’s Bay locations.
In addition, 50 branches will be merged within the next 18 months, which suggests further branch closings, and about 300 positions will be eliminated, mostly through attrition; a hiring freeze has been issued and employees who are leaving (retirement, to take a job elsewhere, etc.) will not be replaced. The cut represents about 8% of the bank’s full-time positions.
The move is part of a major restructuring process which includes moving its head office from McGill College Avenue in Montreal to a location in the downtown core in 2018 in order to cut costs. In a statement, the bank’s chief executive officer Francois Desjardins said the bank needs to adapt their retail services because the traditional banking model is becoming “obsolete”. The changes will be made in order to maximize their operating efficiency.
