EQB Inc is the latest in Canada's banking sector to announce job cuts. Photo by THE CANADIAN PRESS/Tijana Martin

EQB Inc. says it is reducing its workforce by about eight per cent as it tries to boost its efficiency, the latest cuts to hit Canada’s financial services sector .

The company, which offers banking services through its Equitable Bank, the country’s seventh-largest bank by assets, on Wednesday said its restructuring program would cost around $67 million, including workforce reductions and impairment charges, and will be included in its fourth-quarter results.

“We are executing a future-focused plan,” Chadwick Westlake, EQB’s chief executive, said in a statement. “These decisive, yet difficult, decisions focus our efforts and improve productivity to drive positive operatin

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