The Globe and Mail reports in its Friday, June 19, edition that IGM Financial, the Desmarais-backed parent company of IG Wealth Management and Mackenzie Investments, is taking a $95-million restructuring charge to simplify and reduce costs across its businesses. The Globe's Tim Kiladze writes that IGM estimates the restructuring will allow it to save $70-million annually by the end of 2028, and these savings will partly be used to invest in artificial intelligence tools. IGM did not specify how many jobs will be cut as part of the restructuring, but cited severance payments as a factor in the charge. IGM is making cuts while its shares are on a stellar run, up 93 per cent over the past 12 months, after many years of weakness. The company said its restructuring "is about evolving IGM as an agile, AI-enabled business while continuing to prioritize our human-first, relationship-driven approach." The company also hopes its investment in technology will allow employees to focus on higher-value work and enable them to better serve clients. IGM announced its restructuring weeks before a leadership change takes effect. IGM is also an investor in Wealthsimple, which is controlled by Power Corp. of Canada.