CIBC expands child care program for employees

Bank says program saved $1.4 million in productivity in Toronto, wants to expand program across the country
||Last Updated: 09/01/2005

The CIBC is expanding its backup child care program to 14 cities across Canada following the success of its initial service launched in Toronto more than two years ago.

Since it launched its facility in Toronto in 2002, the CIBC Children’s Centre has saved more than 6,800 employee days representing nearly $1.4 million in productivity savings when employees used the centre to look after their children on short notice.

“Our employees in Toronto have told us that this service gives them peace of mind when their usual child care arrangements are suddenly unavailable due to illness or other unexpected events,” said Joyce Phillips, CIBC executive vice-president human resources. “I am delighted that we are now going to be able to expand the program from coast to coast.”