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Stock impact report

CIBC plans to shuffle executives, cut 2,000 jobs - Globe and Mail [Reuters (UK)]

Canadian Imperial Bank of Commerce (CM) 
Last canadian imperial bank of commerce earnings: 2/26 05:53 am Check Earnings Report
Company Research Source: Reuters
CIBC plans to shuffle executives, cut 2,000 jobs - Globe and Mail - Reuters 2 Min Read Feb 21 (Reuters) - Canadian Imperial Bank of Commerce is expected to make changes to its senior executive ranks and announce about 2,000 job cuts when it reports first-quarter earnings next week, the Globe and Mail reported tgam.ca/2uguwyL on Friday. CIBC plans to move Christina Kramer, the head of personal and small-business banking, to a new role as head of technology and operations, while current chief risk officer Laura Dottori-Attanasio will take Kramer’s place at the helm of the retail banking division, the newspaper reported, citing sources familiar with the matter. Victor Dodig, chief executive officer of Canada’s fifth-largest bank, told staff late last month that CIBC needs to challenge itself to be “a more efficient bank by focusing on continuous improvement and keeping a careful eye on costs”. Controlling costs is particularly vital for CIBC, which already expects expenses to grow at 4%- Show less Read more
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