Toronto-based Royal Bank of Canada (RBC) confirmed on Wednesday that it’s cutting approximately 450 employees as part of broader changes underway at the bank to bolster its digital, data and new technology capabilities as well as to invest in high-growth business areas.

The 450 jobs were located primarily at RBC’s head office locations in the Greater Toronto Area and do not include any client-facing employees, the bank confirmed.

RBC is “making hundreds of changes that included promotions, transfers, creation of new roles and new teams as well as introducing new capabilities from outside our organization,” the bank says in a statement.

RBC adds that it would provide support to those whose jobs were eliminated, including salary and benefits for a period of time and external career transition services.

Canada’s big banks have all committed to restructuring recently in an effort to better focus on providing digital banking services and becoming more client-centred, overall.

“We have a tremendous amount of work underway to ensure we are leveraging our scale to be truly a digitally-enabled relationship bank,” said Dave McKay, president and CEO of RBC, in a conference call in May announcing the bank’s second quarter results.

“We’re changing how we work, collaborating with a diverse set of partners to explore new technologies, with a focus on artificial intelligence and machine learning,” he added. “We’re investing in the wider Canadian digital ecosystem to drive the future prosperity of the country.”

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