News

Canaccord Genuity cuts size of workforce by 4% due to weak market conditions

TORONTO – Canaccord Genuity Group Inc. (TSX:CF) is cutting jobs at its global capital markets business due to weak market conditions.

The downsizing will affect four per cent of its workforce or about 80 positions, based on a total of about 2,013 employees companywide at the end of September.

The company says the cuts will primarily affect its European and U.S. operations.

Canaccord offers brokerage, capital markets and wealth management services.

It operates offices in Canada, the United States, Europe and Asia.

Canaccord is scheduled to release its next quarterly financial report on Wednesday after markets close and will hold a conference call with analysts the following morning.