Mr. Scott Davidson reports

CANACCORD GENUITY ANNOUNCES WORKFORCE REDUCTION IN ITS GLOBAL CAPITAL MARKETS BUSINESS

Canaccord Genuity Group Inc. is implementing a plan to reduce the size of its work force within its global capital markets business to rationalize operations in light of current market conditions.

The plan will primarily affect U.K., European and U.S. operations, and will result in a 4-per-cent reduction in the size of the company's work force at an approximate total pretax cost of $22-million.