TORONTO – Manulife Financial Corp. says it will cut its workforce by about 700 jobs as part of a wider restructuring of its operations as it makes a greater push to digital.
The company says the job cuts will come through voluntary exit programs and natural attrition over the next 18 months.
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Manulife says it will require fewer staff as it automates and digitizes existing customer transactions and consolidates other administrative and operational back-office functions.
The company says it will look to recruit and train top digital talent as it looks to reorient its customer service model.
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Manulife says it will also consolidate its two Kitchener-Waterloo operations into one Canadian division headquarters.
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The company says it has more than 13,000 staff in Canada as part of a global workforce of about 35,000 people.
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