Canada · Country watch

Microsoft Layoffs, Interest Rate Hike Expected

Microsoft offers voluntary layoffs in Canada; Bank of Canada likely to raise interest rates amid rising energy costs.

Florent Kalfon · 26 October 2026 · 18 articles read

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Business conditions in Canada are mixed. Microsoft layoffs signal restructuring in tech, while expected interest rate hikes and BC's government change impact finance and energy.

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In this briefing Microsoft · Bank of Canada · British Columbia · oil and gas industry

Companies

Technology

Microsoft offers voluntary layoffs in Canada

a tall brick building with windows and a sky background — Praswin Prakashan / Unsplash

Microsoft has announced a voluntary layoff program affecting approximately 60,000 employees across Canada, the United States, India, and the United Kingdom, according to Le Journal de Montreal. This move comes as part of a broader restructuring effort by the tech giant to streamline operations and reduce costs. The layoffs are expected to impact various departments, though specific details on which sectors will be most affected have not been disclosed.

Impact Technology sector employers in Canada face potential workforce reductions as Microsoft initiates voluntary layoffs.

Sources: Le Journal de Montreal ↗

Markets

Finance

Bank of Canada expected to hike interest rates

The Bank of Canada is anticipated to raise its key interest rate this week, as reported by City News Toronto. This decision comes amid rising energy prices, which are contributing to inflationary pressures. The central bank's move is aimed at curbing inflation and stabilizing the economy. The exact timing and magnitude of the rate hike have not been confirmed, but it is expected to affect borrowing costs across various sectors.

Impact Lenders and borrowers in Canada should prepare for increased interest rates, affecting loan and mortgage costs.

Sources: City News Toronto ↗

Politics

Energy

BC government change boosts oil and gas prospects

The recent change in British Columbia's government is expected to create a more favorable environment for the oil and gas industry, according to the Calgary Herald. With a new Conservative leadership, there is potential for improved relations with Alberta, particularly concerning pipeline projects. This shift could lead to increased investment and development opportunities in the energy sector, as the new government seeks to establish a more cooperative regional energy policy.

Impact Energy sector investors in Canada may see increased opportunities as BC's new government supports oil and gas projects.

Sources: Calgary Herald ↗

Nothing significant reported today in Regulation · Disruption · Internal tension · Safety & health · Trade.

Also today in the local press

Le Brésil choisit Carney contre Trump — Le Journal de Montreal
BC Conservatives lay out goals for first 100 days in office — Global News
This pipeline on early warning inflation pressures is 'lit up,' warns Scotiabank economist — Financial Post
Cabinet minister guilty of ethics violation may have buyer for family business two years after offering to sell — Winnipeg Free Press
S&P/TSX composite rises more than 150 points, U.S. stock markets also higher — City News Toronto
ELECTION LIVE: Toronto and GTA municipal vote results — Toronto Sun
Western inland ports form alliance — Winnipeg Free Press
News of the day: How to vote in Ottawa's municipal election; DND refuses to say if it received secret F-35 report from U.S.; OCDSB trustee candidates come together to call for safer drinking water — Ottawa Citizen

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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