Kinda makes you wonder why these entities exist in the first place, doesn't it?
TD-Canada Trust move no surpriseYour turn: Do you have any silly-city-leadership stories to share?
Published Friday, July 28, 2006
The London Free Press
News that TD-Canada Trust is closing its two regional support centres in London and carting 300 jobs to Mississauga and Montreal should not have come as a surprise to the London Chamber of Commerce.
The chamber’s general manager, Gerry McCartney, said he was surprised by the decision. He shouldn’t have been.
Gone are the days when a few large employers dominate the London economy. Industry-dominant players like TD-Canada Trust operate in a much larger economic playground than our city. They face global pressures to maximize profits and drive share values higher.
If they can realize additional bottom-line gain by combining large numbers of inefficient operations into a few more centralized ones, they will. And there’s nothing wrong with that.
It is a foregone conclusion that the few remaining large-scale employers in London are also evaluating their operations on a regular basis. The city would do well to proactively work with them to identify efficiencies closer to home.
Perhaps then they won’t be surprised when the moving vans pull in.