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GMP’s deep restructuring hits senior employees in Canada Add to ...

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GMP Capital Inc. is slashing nearly a quarter of its global work force, shuttering operations in Britain and Australia and eliminating its dividend.

The drastic restructuring comes amid a prolonged commodity rout that has battered Bay Street’s independent dealers – whose revenues traditionally leaned heavily on resource companies – and in the aftermath of a multiyear shift in the investment banking business model that has resulted in a steep decline in trading commissions.

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