February 26th, 2024

Desjardins to cut 30% of service centres, ATMs in next three years

By The Canadian Press on January 31, 2024.

MONTREAL – The Desjardins Group says it will cut its service centres and ATMs by 30 per cent before 2027.

Spokesman Jean-Benoît Turcotti says the boards overseeing the 200-plus credit unions that comprise the organization made the decision after analyzing how frequently the outlets were used.

Desjardins says it will be up to those boards to decide which centres and ATMs in Quebec and Ontario will shut down, as they are in the best position to assess their communities’ needs.

Turcotti says the figures, first reported by Le Soleil, could change depending on how many people use in-person services compared to digital platforms.

Desjardins says that by the end of last year its 669 service counters accounted for just one per cent of transaction volume, while its 1,559 ATMs accounted for three per cent.

In October, the Montreal-based financial services conglomerate said it would lay off nearly 400 people, or about 0.6 per cent of its workforce, due to what it described as the “current economic context.”

This report by The Canadian Press was first published Jan. 31, 2024.

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