Tag Archives: cibc

The Privacy Implications of Outsourcing

By Evan Sumner Last month’s revelation that CIBC will be outsourcing a large number of accounting jobs to India scandalized many Canadians. The news not only negatively affected CIBC’s reputation, but caused a drop in its share price and led

CIBC shares fall further as Canadians abandon bank

By Amy Chen CIBC’s shares fell by more than a percentage point again today as more angry customers ditched the bank in protest over its decision to fire 130 Canadian workers and force them to train their replacements from India.

Indian outsourcers lobbying Canada to ease TFW restrictions

By Devdas Gupta, writing from Thane, Maharashtra, India The industry body representing business process outsourcing (BPO) companies in India is lobbying[1]https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/clntAddr?cid=319065&lang=eng the Canadian government to to ease short-term temporary foreign worker restrictions with the aim of expanding the four billion-dollar

99% of CIBC shareholders vote to remain in tax havens

By Amy Chen CIBC shareholders voted 99%-1% to kill a proposal calling for the bank to pull out of tax havens and other low tax jurisdictions at the corporation’s annual shareholder meeting today in Ottawa. The proposal put forward shareholder

CIBC shares fall as boycott bites

By Amy Chen CIBC’s shares fell by nearly a percentage point wiping $400 million off the bank’s market value today as more angry customers ditched the financial institution in protest over its decision to fire 130 Canadian workers and force

Customers abandon CIBC after bank axes Canadian workers and ships jobs to India

By Amy Chen CIBC customers are abandoning the bank in droves, with some even posting photos of themselves cutting up their bank cards on social media, following the financial institution’s decision to fire 130 Canadian workers and force them to