Workers appear to be paying the price after Toronto Dominion Bank was hit with a $3 billion money laundering penalty late last year. The Canadian lender, better known as TD, said Thursday it is laying off 2% of its roughly 95,000 employees. The move is part a restructuring stemming from its historic settlement with U.S. regulators, which also bars the bank from expanding its stateside retail operations. It expects to save $505 million in pre-tax labor costs associated with the workforce reduction.
