IBC has extended its human resources outsourcing program with EDS in a deal worth $92.5 million.
The bank first signed a seven-year contract with EDS in 2001 for $203 million. The new deal will now run for 10 years.
“We are pleased to expand our relationship with EDS,” said Joyce Phillips, executive vice-president of human resources at CIBC.
EDS provides CIBC’s 37,000 employees and 9,000 retirees with administration of benefits, payroll, workforce administration and compensation management.
For more information about the CIBC outsourcing deal and HR outsourcing, click on the related articles link below.