On October 25, 2025, reports confirmed that TD Bank is laying off staff and staggering its four-day return-to-office mandate as part of ongoing restructuring tied to cost-cutting and anti-money-laundering remediation efforts. The job reductions affect teams in direct investing, risk management, and corporate functions.
TD’s four-day-per-week in-office requirement is rolling out in phases: executives shifted to four days in office starting October 6, 2025, while non-executive employees are expected to transition on November 3, 2025. Some departments will not move to the full in-office schedule until early 2026.
TD spokesperson Meghan Thomas said the bank is focused on streamlining how we operate to build a simpler and faster bank
while continuing to invest in front-line advice, digital, and AI and data-driven solutions
. (The Globe and Mail, Reuters)
Earlier TD Bank Layoffs
On May 22, 2025, TD confirmed it would reduce its global workforce by approximately 2% — about 2,000 roles — as part of a restructuring tied to higher loan-loss provisions and a pivot toward digital and AI investments. The plan also includes winding down TD’s U.S. point-of-sale financing business. (Reuters)
This restructuring is expected to generate up to C$650 million in annual savings, with TD taking C$600–700 million in restructuring charges over multiple quarters. (Reuters)
These developments highlight the importance of understanding your rights if you’re affected — including severance pay, reasonable notice, and potential wrongful dismissal claims.
Wondering what you’re owed? Use our Severance Pay Calculator to quickly estimate your entitlement based on your age, tenure, and role.
TD Bank’s Employment Practices
TD Bank, like many large corporations, has a complex set of employment practices that govern how layoffs and terminations are handled. These practices are influenced by factors such as company policy, employment contracts, and applicable labour laws. However, as seen in several legal cases, there can be instances where these practices are challenged, and the courts are called upon to determine whether TD Bank has, in fact, acted in accordance with the law.
For employees, it is crucial to gain an understanding of their rights under the law. The best way to do so is by examining past cases involving TD Bank.
By reviewing these cases, employees can gain valuable insights into how courts have interpreted the law in similar circumstances.
Key Legal Cases Involving TD Bank
In this section, we will review several notable legal cases involving TD Bank. These cases provide a comprehensive overview of the legal issues that can arise in the context of layoffs and terminations. Each case offers important lessons for employees who may be facing similar circumstances.
In the 2022 case of B. v. TD Bank Group, 2022 ONSC 5445, the Ontario Superior Court of Justice was asked to rule on a motion for summary judgment filed by TD Bank. The bank sought to dismiss the plaintiff’s lawsuit, arguing that the plaintiff had already signed a full and final settlement and release of all claims arising from his former employment with TD Bank. Despite receiving consideration for this settlement, the plaintiff initiated a new legal claim against TD Bank, alleging wrongful dismissal and other grievances related to his termination.
Justice Healey presided over the case and ultimately allowed TD Bank’s motion for summary judgment, dismissing the plaintiff’s lawsuit. The court found that the settlement agreement was comprehensive and that the plaintiff had acknowledged its terms, including a “release” of all claims related to his employment with TD Bank. This case highlights the importance of understanding the implications of signing a settlement agreement. Employees who agree to such settlements should be aware that they are generally, among other things, giving up the right to pursue any further claims against their employer related to their termination.
Notably, employees are generally provided with a full and final release at the time of termination. Prior to signing any agreement, it is important to get legal advice. At Monkhouse Law, our employment lawyers have experience with TD Bank and are familiar with the terms and conditions TD Bank imposes.
This case also underscores the role of mediation in resolving employment disputes. In this instance, the parties had reached a settlement through mediation, and the court upheld the agreement as binding. Employees who participate in mediation should ensure that they fully understand the terms of any agreement reached, as it will likely be final and enforceable in court (as seen in this case).
The 2008 case of T. v. TD Bank is another significant legal battle involving TD Bank. In this case, the complainant, an employee of TD Bank, alleged unjust dismissal after being constructively dismissed. The complainant argued that the termination was unjust and sought compensation for damages, including lost wages and benefits. An unjust dismissal
The tribunal, presided over by adjudicator Luborsky, found in favour of the complainant, ruling that TD Bank had unjustly dismissed the employee. The judgment emphasized the importance of making the complainant whole, given the remedial provisions found under the Canada Labour Code. The tribunal awarded the complainant damages, including compensation for the loss of salary and benefits during the notice period.
This case serves as a crucial reminder that employers must adhere to the legal requirements for termination, including providing reasonable notice or severance pay in constructive dismissal cases. Employees who are unjustly dismissed should be aware that they may be entitled to compensation if their employer fails to meet obligations.
3) S. v. TD Bank, 1997 and 1999
The S. v. TD Bank cases from 1997 and 1999 provide a detailed examination of constructive dismissal in a court as opposed to a tribunal (see T. v. TD Bank, 2008). A constructive dismissal occurs when an employee resigns due to their employer’s actions, which effectively force them out of their job. In the 1997 case, the plaintiff, a high-ranking executive at TD Bank, claimed that his role was significantly diminished when the bank hired another executive to take over a substantial portion of his responsibilities. He argued that this amounted to constructive dismissal.
Justice Kiteley, who presided over the 1997 trial, agreed with the plaintiff, ruling that the changes to his role constituted a fundamental breach of his employment contract. The court awarded the plaintiff substantial damages, including compensation for lost salary, bonuses, and benefits.
The case was appealed, leading to a second judgment in 1999, where the Court of Appeal upheld the initial decision. Chief Justice McMurtry and Justices Weiler and Goudge reaffirmed the lower court’s ruling, emphasizing that unilateral changes to an employee’s role that substantially alter the terms of employment can be deemed constructive dismissal.
These cases are particularly instructive for employees who may feel that their role within a company has been undermined or significantly changed. The S. v. TD Bank rulings demonstrate that employees are not obligated to accept such changes and may have legal recourse if they choose to resign for cause due to these conditions.
4) K. v. TD Bank, 2015
In K. v. TD Bank (2015), the plaintiff challenged TD Bank’s decision to terminate his employment, alleging that the termination was based on discriminatory grounds. The case was heard by Justice Brown, who examined whether the bank’s actions were in violation of human rights legislation.
The court ultimately ruled in favour of TD Bank, finding that the termination was based on legitimate business reasons and not on any discriminatory grounds. However, this case highlights the importance of understanding the protections offered by human rights laws, particularly in cases where an employee believes they have been targeted due to race, gender, age, or other protected characteristics.
For employees facing layoffs or terminations, it is crucial to consider whether their dismissal may be related to any form of discrimination. If so, they may have grounds for a legal claim under human rights legislation, in addition to any claims for wrongful dismissal.
5) O. v. TD Bank, 2015
The case of O. v. TD Bank (2015) involved an unjust dismissal claim brought by a former employee who alleged that he was terminated without cause. The complainant also filed a wage recovery appeal, claiming unpaid vacation pay. Adjudicator Ian R. Mackenzie was appointed to hear the case, which ultimately centred on the issue of whether the complainant’s undismissal and wage claims should be suspended pending the outcome of a human rights complaint.
The adjudicator ruled in favour of TD Bank, dismissing both the unjust dismissal complaint and the wage recovery appeal. The decision was based on the finding that allowing the complainant to pursue multiple claims simultaneously would be prejudicial to the employer and an abuse of process.
This case underscores the importance of carefully considering the timing and forum for pursuing legal claims. Employees should be aware that attempting to litigate the same issues in multiple venues can be detrimental to their case. Our employment lawyers at Monkhouse Law have experience in pursuing matters in the various avenues and can guide you on the correct pathway which better aligns with your matter.
6) Evaniuk v. TD Bank, 2015
In Evaniuk v. TD Bank (2015), the plaintiff challenged his termination, alleging that it was unjust and seeking damages for wrongful dismissal. The case was heard by an adjudicator under the Canada Labour Code, who was tasked with determining whether the termination was justified and whether the plaintiff was entitled to compensation/damages.
The adjudicator ruled in favour of TD Bank, finding that the termination was for cause and that the complainant was not entitled to any additional compensation. This case illustrates the significance of understanding the grounds for termination and the legal standards that apply. Employees who are terminated for cause may have a more challenging time pursuing claims for unjust or wrongful dismissal, and it is essential to seek legal advice to determine the strength of such a claim.
Legal Takeaways for Employees Facing Layoffs at TD Bank
The legal cases reviewed above provide valuable insights into the rights and remedies available to employees who face layoffs or terminations at TD Bank. While each case is unique, several common themes emerge that are relevant to any employee dealing with a similar situation.
1) Understanding Settlement Agreements
One of the most critical lessons from the B. v. TD Bank Group, 2022 case is the importance of fully understanding the implications of signing a settlement agreement. Employees who agree to a settlement should be aware that they are likely giving up the right to pursue any further claim against their employer. Before signing any agreement, it is advisable to seek independent legal advice to ensure that the terms are fair and that the employee fully understands the grave consequences.
2) The Importance of Adequate Notice
The T. v. TD Bank case highlights the legal requirement for employers to provide adequate notice of termination or pay in lieu thereof. Employees who are terminated without cause should be aware that they may be entitled to compensation if their employer fails to provide reasonable notice. This is particularly important for employees who have been with the company for an extended period, as the length of notice may be longer.
3) Constructive Dismissal
The S. v. TD Bank cases offer a clear example of constructive dismissal, where an employee is effectively forced to resign due to significant changes to their role. Employees who find themselves in a similar situation should be aware that they do not have to accept these changes, and they may have legal recourse if they choose to resign. It is essential to document any changes to one’s role and seek legal advice to determine whether a case for constructive dismissal can be made.
4) Human Rights Considerations
The K. v. TD Bank case underscores the importance of considering whether a termination may be related to discriminatory factors. Employees who believe they have been terminated due to race, gender, age, or other protected characteristics should be aware of their rights under human rights legislation. Such claims may provide an additional avenue for seeking redress in the event of a layoff or termination.
5) Choosing the Right Forum for Legal Claims
As seen in the O. v. TD Bank case, it is crucial to carefully consider the timing and forum for pursuing legal claims. Attempting to litigate the same issues in multiple venues can lead to complications and may ultimately harm the employee’s case. It is often advisable to consolidate claims and seek legal advice to determine the most appropriate course of action.
6) Terminations for Cause
The Evaniuk v. TD Bank case illustrates the challenges associated with claims of wrongful dismissal when the termination is for cause. Employees who are terminated for cause may have a more difficult time pursuing legal claims, as the employer may have a stronger defense. It is essential for employees in this situation to gather all relevant evidence and seek legal advice to assess the strength of their case.
TD Bank Restructuring & Layoffs: FAQs
What is TD Bank’s restructuring plan?
TD’s restructuring includes a global workforce reduction of about 2% (roughly 2,000 roles), cost-cutting tied to AML remediation, and investments in digital, AI, and operational streamlining. (Reuters)
How do TD Bank layoffs relate to restructuring?
The layoffs reported in October 2025 affect direct investing, risk, and corporate teams and appear to be part of TD’s broader restructuring and workforce reduction strategy. (The Globe and Mail)
What does “TD Bank workforce reduction” mean?
It refers to TD’s multi-phase plan to reduce its global workforce by approximately 2% (about 2,000 positions) as the bank restructures operations, manages higher compliance and anti-money-laundering costs, and increases investment in digital and AI initiatives. (Reuters, The Globe and Mail)
Conclusion
Facing a layoff or termination can be a daunting experience, especially when it involves a large and powerful employer like TD Bank. However, understanding your legal rights and the options available to you can make a significant difference in how you navigate this challenging situation. The cases reviewed in this post provide important lessons for employees who may be facing similar circumstances, offering insights into the legal standards that apply and the potential remedies available.
Monkhouse Law has extensive experience in handling cases against TD Bank and other large employers. If you have been laid off or terminated by TD Bank, it is crucial to seek legal advice as soon as possible to protect your rights. Whether you are considering a wrongful dismissal claim, a constructive dismissal claim, or exploring other legal avenues, the team at Monkhouse Law can provide the guidance and support you need.
Remember, the law is on your side, and you do not have to face this situation alone. With the right legal representation, you can ensure that your rights are upheld and that you receive the compensation and justice you deserve.
Navigating workplace issues can be challenging. At Monkhouse Law Employment Lawyers, our knowledgeable team offers clear, practical legal advice to help you address concerns promptly and efficiently. Don’t wait for problems to grow, contact us today for a free 30 minute phone consultation.