City National Bank

Money Moves

US subsidiary of Royal Bank of Canada, undergoing workforce reductions

City National Bank told California regulators on November 3 it plans to cut 22 jobs across two Los Angeles sites, effective January 8, 2027. The notices are filings of intent under the federal WARN Act, which requires 60 days' warning of a mass layoff, not reports that the jobs have already ended.

Updated 5 days ago

Money Moves

Meritage's largest creditor

Meritage Hospitality Group filed for Chapter 11 on September 17 with about $651 million in liabilities. Wendy's had terminated the franchise agreements a day earlier and says Meritage owes roughly $147 million; Meritage disputes the termination and sued to keep the agreements in force. The two sides are still fighting in bankruptcy court, and Meritage has kept closing restaurants.

Updated 5 days ago