r/CIBC

Anyone else pulling their business from CIBC because of the lay offs?

For me this was the last straw. I have a multi million dollar investment portfolio and use CIBC for my day to day banking, or I should say did. I'm going to another bank. I'd rather not deal with India call centers or the myriad of issues that will inevitably turn up. Just the other day my account balance wouldn't even display.

So seeing the CIBC staff get let go left and right for me was the push I needed.

Several months earlier, my partner overheard a conversation between several managers being told by leadership to cut staff.

Since then, my partner's manager has started documenting her for minor issues by email, taking away her work and re-delegating it to junior staff, and isolating her from her team.

She has been at the bank for 20 years and never had any performance issues.

Given the mass layoffs in recent months, could this be a pressure tactic to get her to quit so they don't have to pay out a large severance?

Is this also happening to others at the bank?

Cashed a cheque last Tuesday from the WSIB which was obviously put on hold. Release date changed from the 6th to the 7th to the 8th. Called in tonight and they said I need to go in person again to verify the payment.

My only thought is that i didn’t sigh the cheque when I cashed it. Is this normal for all cheques to be signed, and they won’t clear unless signed? Does clearing this flag help release the funds sooner? Thanks in advance.