Description: Scotiabank CEO, Brian Porter, announced several important changes to its operations. These changes include cutting 1,500 jobs (two-thirds of these in Canada) and closing 120 branches in foreign markets.

Source: Business News Network

Date: November 04, 2014

Video Link: http://www.bnn.ca/News/2014/11/4/Scotiabank-to-cut-1500-jobs-close-about-120-branches-amid-writedown-.aspx

Questions for Discussion:

1. Analyze the reasons that led Brian Porter to make these changes.
2. What do these changes signal about the Canadian banking industry? Is there a reason for concern?