12:31 PM EST, 03/07/2025 (MT Newswires) -- Royal Bank of Canada ( RY ) cut some workers due to changes at its business segments after it completed the acquisition of HSBC's ( HSBC ) Canadian business in 2024, Reuters reported Friday, citing two sources with knowledge of the layoffs.

The cuts started earlier this week and affected the technology and operations teams, according to the sources.

The number of employees affected by the layoffs were unclear, the report said, adding that it is uncertain whether job cuts will continue.

Royal Bank of Canada ( RY ) didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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