Laid off from TD Bank.
Since 2025, TD Bank's layoff notices in the United States have followed lists of closing stores, which gave workers a more specific signal than the company-wide targets its Toronto parent announced.
What we know about TD Bank severance and layoffs
- About 3% workforce reduction in the program that ended January 31, 2026
- $886 million Canadian in total charges for that restructuring program
- More than 3,000 jobs in the company-wide cut TD announced in November 2023
- $929 million Canadian charged to that earlier program, which ended in 2024
- 126 New Jersey jobs in two notices that followed store closing lists
- 1,100 U.S. stores in July 2025, down to 1,048 one year later
The most recent TD Bank layoff we've found
TD's restructuring program ended on January 31, 2026, with last-quarter charges above guidance on "additional workforce optimization opportunities," the February 2026 release said. TD's August 2026 results list that $200 million as the fiscal year's only restructuring charge through July.
What TD Bank layoffs have meant for employees
If you work in a TD store, the closing list has been the clearest warning on record. TD told NJBIZ its 2025 New Jersey notice "largely affects those colleagues impacted by our recent store closure announcement," and WFPG, relaying the Philadelphia Business Journal, tied the next notice to eight closings. "Largely" matters, because it leaves room for jobs outside the closing stores. Those notices are listed under Cherry Hill and Mount Laurel while the closing branches were in other towns, so a town name on a notice may have little to do with where you work, and your store's place on a closing list tells you more about your job than a notice's address does. Closings aren't the whole New Jersey record, though. TD's January 2024 notice gave work volume and an organizational restructure as its reason.
The company-wide numbers won't get you that close. TD didn't say how its 2025 cuts divided between the United States and Canada, Reuters reported, and its CFO called the 2023 round "pretty broad-based" to Banking Dive. A target set for the whole bank can't tell you the odds for your department, your state or your country, and the 2025 target moved, from the 2% first reported in May to about 3% in TD's February 2026 release, so the first number announced wasn't the last. Store lists aren't the whole story either. Three sources traced the 2025 losses to direct investing, risk management and corporate functions for The Globe and Mail, jobs no closing list would have flagged. If you sit in one of those groups, the branch lists won't be your signal.
That February release says the $200 million charged in the second program's final quarter went primarily to severance and other personnel costs, real estate, and asset impairment and other rationalization. For the first program, TD's December 2024 results name severance, other personnel costs and real estate as the primary uses of its charges. That program ended in fiscal 2024 and the next opened in May 2025, so if you kept your job through the first, the second arrived in the following fiscal year.
Stores and staff haven't moved together. U.S. Banking's average staff rose from 28,817 to 30,436 in the same year its stores fell, TD's August 2026 results show, and that report looked ahead to opening new stores, pending regulators. A closed store, in other words, hasn't been the same thing as a shrinking U.S. payroll. The staff figure is a segment average, so it can't show whether anyone from a closed store landed in those jobs. It's still a reason to keep TD's own openings on your list alongside outside applications, given the redeployment language the bank used in 2023.
Older closings show another way a TD job ends, with the work staying and the site going. TD's 2012 Springfield plan moved calls to centers in other states, WAMC reported, and TD Auto Finance's plan for Dallas sent positions to other TD contact centers, per Auto Remarketing. If TD offers you a transfer, you can set its location and terms against anything else you have in hand.
New Jersey carries most of this record, so New Jersey's unemployment rules are where many readers will start, while Maine's and Texas's cover the other states where notices under TD's name went, a single Maine notice from 2021 and the Dallas closing's 2016 notice in Texas.
A sourced history of TD Bank layoffs
January 2026, notice tied to eight New Jersey branch closings
TD planned to lay off 74 people as 2026 began and tied the cuts to closing eight New Jersey retail locations, including Manahawkin and Atco, according to Philadelphia Business Journal reporting relayed by WFPG.
May 2025 to January 2026, company-wide restructuring program
TD opened with a 2% cut, some 2,000 employees, and a U.S. point-of-sale financing wind-down, Reuters reported. Direct investing and risk management lost jobs, sources told The Globe and Mail, and the February 2026 release closed the program at $886 million.
March to June 2025, store closings reach New Jersey
TD expected to let 52 New Jersey employees go between March 31 and June 26, and its spokesperson told NJBIZ the cuts largely fell on staff touched by its plan to shut more than three dozen stores.
January 2024, Cherry Hill notice cites work volume
TD filed to lay off 54 branch workers, giving a "reduction in work volume and organizational restructure" as its reason, WFPG reported.
November 2023 to 2024, company-wide job cuts
TD said it would cut more than 3,000 jobs across all business lines, through attrition and by redeploying people to open positions wherever possible, Banking Dive reported. The program concluded in TD's third quarter of 2024, its December 2024 release said.
November 2015 to April 2016, Dallas contact center closing
TD Auto Finance said its Dallas center of about 330 people would close in April, with 250 positions going to Greenville, South Carolina, 70 to Farmington Hills, Michigan, and nearly 30 to Jacksonville, Florida, Auto Remarketing reported.
May to December 2012, Springfield call center consolidation
About 200 people learned TD planned to close its Springfield, Massachusetts, call center in December. WAMC reported job fairs, 40 vacant area positions and severance packages for anyone without a new job by then.
March 2007, TD Banknorth cuts 400 jobs, 24 branches
TD Banknorth, then majority-owned by TD, approved a reduction of about 400 employees and the closing or consolidation of 24 branches, 13 in New Jersey. Its Form 8-K estimated severance at about $6.4 million to $9.7 million.
What to do if you're laid off from TD Bank
- File for unemployment in the state where you worked. Benefits run from your filing date, and severance usually doesn't block you. TD Bank's biggest hubs: New Jersey, Maine, Texas. Somewhere else? Every state is here.
- Apply for financial and hardship assistance. Unemployment supplements income, but food benefits, health coverage and utility help are often available as well. Here's some of what TD Bank's hub states run: New Jersey, Maine, Texas, and every other state is here.
- Mind the health insurance window. Losing coverage opens a 60-day special enrollment period, and an ACA plan usually beats unsubsidized COBRA. Compare your options before the employer coverage lapses, and read how the COBRA clocks run if you are weighing it seriously.
- Get your real runway number. Severance plus savings divided by reality. The calculator takes five minutes.
- Know which clocks are already running. Severance review windows, COBRA election, visa grace periods, and 401(k) rollovers all run on federal deadlines that started at termination. All five deadlines are here.
TD Bank layoff and severance questions
What severance has TD Bank given laid-off employees?
The firmest dollars date to 2007, when TD Banknorth's Form 8-K budgeted $6.4 million to $9.7 million across about 400 jobs, an average of roughly $16,000 to $24,000 by our arithmetic. In 2012, WAMC reported severance packages for Springfield staff without a new job by December. For recent programs, TD's February 2026 release lists employee severance among the costs behind the final quarter's charge, with no amount or formula per person on record.
Were TD Bank layoffs caused by the money laundering settlement?
A spokesperson told NJBIZ the 2025 New Jersey cuts weren't connected to the $3 billion settlement. The company-wide program is less clear-cut, since Reuters described TD as restructuring after the settlement, and The Globe and Mail wrote that the cost cuts addressed remediation of its anti-money-laundering failings.
How many WARN notices has TD Bank filed?
Six under TD Bank's name have reached our WARN tracker, four in New Jersey and one each in Maine and Texas, going back to 2016. The two most recent, dated 2025 and 2026, cover 126 jobs, all in New Jersey.
How many TD Bank branches have closed?
TD's U.S. store count fell from 1,100 at July 31, 2025, to 1,048 a year later, a net figure, its August 2026 results show. In that August report, TD said U.S. Banking expected to open 100 new stores by the end of 2028, subject to regulatory approval.
Can laid-off TD Bank employees move to another job at TD?
TD has described that as part of its cuts. A spokesperson told Banking Dive in 2023 that moving staff into open roles would help reach that year's target, and WAMC reported 40 vacant area positions open to Springfield staff in 2012. If TD offers you an internal role, it's worth knowing how turning it down would sit with any severance, since Springfield's packages went to staff without new jobs.