Posted Nov 14, 2013, 11:55 PM
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TD Canada Trust announced that it is closing its TD Insurance office in Peterborough by the end of April, and offering the 67 employees there relocation to Saint John or Toronto or layoff.
The TD Insurance employees were told about the decision on Wednesday and given offers to relocate to other TD Insurance locations.
Those who don’t accept relocation offers will be given severance packages, indicated TD Bank Group spokeswoman Huma Pabani.
“As a result of a recent review, we have decided to close one of our locations in Peterborough and move business functions to existing locations in Toronto and Saint John,” she said.
“Our employees are very important to us and are considered very carefully in all decisions we make. All affected employees will be supported throughout this process.”
“We are committed to the region,” Pabani said. “It is business as usual and clients can expect to receive the same high level of service they are used to with TD Insurance.”
The closure of a TD Insurance location in Peterborough, Ont. could lead to more jobs in Saint John, a company spokeswoman says.
The shutdown of the Peterborough office impacts 67 employees who have the opportunity to relocate to jobs in either Toronto or Saint John, said TD Bank Group spokeswoman Huma Pabani.
At present, it’s unknown on the breakdown of the jobs that would be moved to either the Saint John or Toronto location.
“We won’t know until all the employees decide what they’re going to do from Peterborough,” she said, adding that all affected employees will be supported throughout the process.
Those who don’t choose to relocate will be given severance packages, she said.
Job relocations could take place anytime between now and next spring, she said.
Rob Campbell, President of ContactNB which represents the call centre industry, said the company’s decision meant good news for Saint John, but also extended to the workers in Peterborough his understanding that this is not easy news for them. The fact that the jobs are remaining here in Canada is something we all need to be thankful for however. We are in a competitive global marketplace and we are proud to have great companies like TD Insurance here in Canada.
He said call centres, like any business, look for advantages in a competitive marketplace, and Saint John and the rest of the province has the advantage of many years in the industry.
“There’s already an existing infrastructure with technology and buildings, and highly educated and trained leaders that are there, so that makes it advantageous for any company – not just TD – to locate there,” Campbell said. “It comes down to advantages of the 20-plus years that the industry’s been here.”
The call centre industry has remained stable in New Brunswick over the past two years despite the tough economy, he said. It came after 13 per cent growth in the industry from 2009 to 2011.
TD Insurance now employs 450 full and part-time staff in Saint John and have been in the city for 17
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