The Financial Post reports in its Friday edition that TD Bank's provisions for credit losses totalled $878-million in the quarter, more than the $844.5-million analysts had expected. A Bloomberg dispatch to the Post says that TD missed analysts' earnings estimates after setting aside more money than forecast for potentially souring loans and announcing a restructuring charge related to a planned 3-per-cent cut to the lender's work force. The bank, Canada's second-largest lender, said Thursday that it took $266-million in after-tax restructuring charges in the fiscal fourth quarter related to the staff reductions as well as reworking its real estate footprint, including a reduction of 111,000 square metres of office space in its United States operations. TD also warned that it will be "challenging" for the bank to meet its medium-term earnings targets for fiscal 2024. The layoffs follow similar announcements by other Canadian banks, including RBC, BMO and Scotiabank. Toronto-Dominion's work force reduction would amount to more than 3,000 positions. On a pretax basis, Toronto-Dominion said that it expects the restructuring to generate $400-million in savings in the current fiscal year and $600-million annually.