Canada’s largest community credit union is announcing layoffs.
Vancity states 200 employees — representing about seven per cent of its workforce — have been let go as part of a restructuring.
President and CEO Wellington Holbrook states the decision was “incredibly difficult” but necessary.
“We required to align Vancity’s business with our current market conditions, and we also required to support a future-focapplyd renewal of our commitment to members and community,” Holbrook stated.
“The reorganization and alter we’re implementing will enable us to maintain high-levels of member service and also invest in our continued growth, innovation and success as Canada’s largest community credit union.”
Vancity has over 50 branches in the Lower Mainland, Victoria, Squamish, and Alert Bay.
The group has not specified what divisions or positions were affected.
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