TORONTO – Financial services company EQB Inc. says it is cutting about eight per cent of its workforce as it restructures its operations.
The company behind Equitable Bank says the move will cost about $85 million before tax.
The costs include about $20 million related to restructuring and severance costs and $65 million in impairment charges.
EQB had nearly 2,000 full-time equivalent employees in its third quarter.
The company says it expects to provide further details, including its final restructuring charge, when it reports its 2025 financial results on Dec. 3.
EQB offers banking services through Equitable Bank, a wholly owned subsidiary, and wealth management services through ACM Advisors, a majority owned subsidiary specializing in alternative assets.
This report by The Canadian Press was first published Oct. 23, 2025.
Companies in this story: (TSX:EQB)
