10:49 AM EDT, 10/17/2025 (MT Newswires) -- Scotiabank (BNS.TO, BNS), one of Canada's big six banks, is cutting an unspecified number of jobs, Christine Dobby of Bloomberg News is telling BNN TV on Friday.

Dobby is citing a memo that was sent yesterday by the head of Canadian banking at Scotia, to everyone in the Canadian retail bank unit. Dobby said the cuts have already been going on for the last few weeks and are "fairly widespread" throughout that business.

Dobby noted Scotia had a couple of years ago announced to market that it was cutting 3% of its work force, and at that point put out a press release outlining related charges. She noted the latest cuts had not been announced to that level, at least not yet.

This comes after Scotiabank itself on Friday said it expects net income contribution from its ownership interest in KeyCorp will be approximately C$74 million in Q4 2025. A statement noted this contribution represents the bank's share of KeyCorp's Q3 2025 net income, includes acquisition-related and other accounting impacts, is net of the bank's associated funding costs and is reported on a one-month lag.

Adjusting for the amortization of acquired intangible assets of approximately C$8 million, the bank added its adjusted net income contribution from KeyCorp will be approximately C$82 million. Scotiabank will release its fourth quarter financial results and host an earnings conference call on December 2, 2025.

BNS was down 0.3% in Canada at last look.

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