TD Canada Trust is a leading Canadian retail bank, offering personal and commercial banking, wealth management, and insurance services. A subsidiary of TD Bank Group, it operates hundreds of branches nationwide and employs thousands of workers in roles ranging from customer service to corporate finance. As a federally regulated financial institution, TD Canada Trust falls under the Canada Labour Code (CLC) for employment standards.

While many employees are non-unionized, certain roles (e.g., call center staff or technical workers) may be unionized under collective agreements with unions like UNIFOR. Layoffs may occur due to organizational restructuring, technological advancements (e.g., digital banking), or economic downturns. Employees retain rights under federal employment law and any applicable union contracts.

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Steps to Take if You’ve Been Laid Off

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1. Review Your Employment Contract or Collective Agreement

• Unionized employees: Consult your collective agreement for layoff procedures, severance terms, and recall rights. Contact your union representative immediately.
• Non-unionized employees: Check your employment contract for termination clauses, notice periods, and severance entitlements.

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2. Confirm Legal Entitlements Under the Canada Labour Code (CLC)

• Notice: Minimum 2 weeks’ written notice (or pay) for employees with 3+ months of service; increases with tenure (up to 8 weeks for 8+ years).
• Severance pay: 2 days’ wages per year of service (if employed 12+ months).
• Group termination: If 50+ employees are laid off within 4 weeks, TD must provide extended notice (16 weeks for 50–99 employees; 18 weeks for 100+).

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3. Negotiate Your Severance Package

• The CLC provides minimum severance, but common law may entitle you to additional compensation based on factors like tenure, age, and job marketability.
• Consult an employment lawyer to review your severance offer and negotiate improvements.

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4. Apply for Employment Insurance (EI)

• Submit your EI application immediately after your last working day. Ensure TD provides your Record of Employment (ROE).

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5. Address Benefits and Pension Plans

• Health benefits: Coverage typically ends on your last day. Explore options like private insurance or provincial health plans.
• Pension: TD employees may participate in the TD Pension Plan (defined benefit or contribution). Contact the plan administrator to discuss portability or deferred options.

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6. Seek Legal Advice

• A lawyer can assess whether your layoff complied with federal standards, identify potential discrimination (e.g., age, disability), or help negotiate a fair severance package.

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7. Utilize Career Transition Resources

• Access TD’s outplacement services (if offered) or external resources like financial sector job boards, LinkedIn networking, and retraining programs.

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FAQs on Being Laid Off by TD Canada Trust

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Q1: Is a layoff from TD Canada Trust considered a termination?

Yes. Under the CLC, a layoff exceeding 12 months or where TD confirms no intent to recall you qualifies as termination, triggering severance and EI eligibility.

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Q2: How is severance pay calculated?

• CLC minimum: 2 days’ wages per year of service (after 12+ months).
• Common law: Courts may award up to 24 months’ pay based on factors like tenure and job prospects.

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Q3: Can TD lay me off without notice?

No. The CLC mandates 2 weeks’ minimum notice (or pay) for employees with 3+ months of service. Union agreements may require longer notice.

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Q4: What if I’m part of a union?

Unionized employees are governed by collective agreements, which may include enhanced severance, recall rights, or grievance procedures. Contact your union rep.

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Q5: Can I challenge my layoff?

Yes, if you suspect discrimination (e.g., based on age, gender, or disability) or procedural unfairness. File a complaint with the Canadian Human Rights Commission or pursue wrongful dismissal.

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Q6: What happens to my pension?

• Defined benefit (DB): You may receive deferred payments starting at retirement age.
• Defined contribution (DC): Funds can be transferred to a new employer’s plan or a locked-in retirement account (LIRA).

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Q7: How long do I have to file a legal claim?

• Wrongful dismissal: 3 years under federal law.
• Human rights complaints: 1 year from the layoff date.

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Why Our Firm?

Ontario’s laws provide critical protections for employees during mass layoffs, ensuring they receive fair notice, severance pay, and support. If you’re affected by a group termination, understanding your rights and seeking professional advice can help you navigate this challenging time and secure the compensation you deserve. Please do not hesitate to contact our experienced London employment lawyers for a free legal consultation. Randy Ai Law Office can be contacted at (548) 489-2006 or fill out the contact form.

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