Manulife cutting about 50 jobs as part of changes at its real estate operations

Manulife Financial Corp. is eliminating about 50 jobs as it makes changes to its real estate operations.

The company says it is changing its real estate operating model in Canada and its regional coverage strategy in North America.

In Canada, the company is moving away from property operations to refocus its business as an investment manager.

In an emailed statement, Manulife says Canadian property operations workers will move to commercial real estate company JLL in March next year as part of the changes.

It says it has a short-term contract with JLL for leasing services and will use a range of brokerage firms in the future.

Manulife has more than 38,000 employees.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.