May 16 (Reuters) - Laurentian Bank of Canada ( LRCDF ) has

cut 2% jobs across the company and shut down its equity research

unit as a part of a planned restructuring of its business, the

lender said on Thursday.

The reduction in the workforce was notified to the employees

by CEO Eric Provost through an internal note on Wednesday, it

said.

Laurentian Bank, which launched a strategic review in July

2023, said it considered a variety of options, including selling

itself and divesting certain businesses.

The Canadian bank, however, reportedly struggled to find an

acquirer and the country's top banks - Bank of Nova Scotia ( BNS )

and Toronto-Dominion Bank ( MLWIQXX ) - had backed out from

bidding for the company.

Laurentian Bank named Provost as chief executive late last

year following an IT outage that disrupted online services, just

days after ending the strategic review without finding a buyer.

Shares of the lender have fallen 35.8% since it launched its

strategic review last July.