CIBC

In May 2025, CIBC eliminated more than 500 positions at its credit card call centre in Toronto as part of an operational restructuring. The cuts were tied to efforts to streamline operations and improve efficiency within the bank’s credit card services division.

CIBC’s financial results, released on November 30, 2023, revealed that the bank cut nearly 2,400 positions during the fiscal year — representing roughly 5% of its total workforce at the time.