TORONTO - Canadian Imperial Bank of Commerce announced an agreement last week to outsource its human resources operations and technology to EDS Canada, the Canadian arm of Plano, Tex.-based Electronic Data Systems Corp.
Starting in June, EDS is to supply CIBC with a call center for employees and managers and it is to take over administration of payroll, benefits, and pension services. It will also manage projects and programs for the human resources division, including health and occupational services.
CIBC's roughly 200 human resources operations and technology service employees are to be offered similar jobs with EDS, the company said.
