, a division of
, received a $156 million contract to handle human resources operations and technology services for
Canadian Imperial Bank of Commerce
EDS, a professional services firm based in Plano, Texas, will begin working under the contract in June. The company will provide CIBC with a human resources call center, systems support, and payroll, benefits and pension administration.
CIBC, which is based in Toronto, has about 200 human resources operational and technology services employees. They will all be offered comparable jobs with EDS.
In recent trading on the
New York Stock Exchange
, CIBC lost 52 cents, or 1.6%, to $31.27. EDS dropped 73 cents, or 1.4%, to $53.46.