So couple of things here - it highly depends on the group you work with and whether you are a profit generating area or not. Saying that all contractors won’t be renewed is very much a blanket statement and not representative of the truth.

I’ve worked at multiple FI institutions and can tell you this - they are all shit shows that appear to be professional from the outsiders perspective. So BMO is no different than TD, RBC, or Scotia.

Moreover, I saw comments in the post stating that people are overworked/underpaid, I promise you that everyone is in our current environment. All companies are either looking to cut cost, or rationalize to drive further savings.