Scotiabank, one of Canada’s “Big Five” banks, operates multiple branches and corporate offices in Ottawa, employing professionals across retail banking, wealth management, IT, compliance, and more. While banking roles are often considered stable, layoffs may happen during corporate restructuring, automation rollouts, or branch consolidation.

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Steps to Take if You’re Laid Off or Offered Severance:

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1. Don’t Sign Right Away

Scotiabank may present a severance package with a deadline—but in most cases, that deadline is not legally binding. Take the time to review it.

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2. Check for Bonuses, Commissions, and Stock Options

Your severance package should reflect all components of your compensation, not just base salary. This includes annual bonuses, incentive pay, RSUs, and commissions if you’re in a client-facing role.

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3. Understand Your Rights in Ontario

As an Ottawa-based employee, you’re covered by the Ontario Employment Standards Act (ESA). But ESA provides only minimum entitlements—you may be entitled to substantially more under common law.

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4. Review Role Changes or Demotions

If your role changed significantly before your termination, you may have a constructive dismissal claim.

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FAQs: 

• Can I still claim severance if I resigned under pressure?

Possibly. If you were given an ultimatum or subtly forced out, it could be constructive dismissal.

• What if I was let go during parental or sick leave?

You may have a human rights claim if your termination occurred during a protected leave.

• Can I negotiate the amount?

Yes. Many Scotiabank employees—especially those with 5+ years of service—are entitled to much more than the standard offer.

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Why Choose Our Firm:

We help Scotiabank employees across roles—including advisors, analysts, and managers—secure fair severance. Do not hesitate to contact us today for a free consultation.