News Release Archive
ECONOMIC RENEWAL--CIBC TRAINING FUNDING SET ------------------------------------------------------------------- Economic Renewal Minister Robbie Harrison said today that the government of Nova Scotia and the Canadian Imperial Bank of Commerce have concluded an agreement on the level of training required for telephone banking expertise. CIBC announced last March that it would establish one of its two national telephone banking centres in Halifax, bringing 500 jobs to the local economy over two years. The centre, when fully operational, will have an annual payroll of $15 million. "At the time the telephone banking centre was announced, the Province of Nova Scotia agreed to make an investment in upgrading the computer, telephone and sales skills of our labour force. That commitment has now been established at $6800 per new employee," said Mr. Harrison. CIBC has already hired the first wave of managers and employees. Training will begin over the next few weeks. "It is vital that Nova Scotia have a skilled workforce if we are to continue to attract significant investment to this province," Mr. Harrison said. "Nova Scotia can compete in the rapidly expanding field of technology. We see this as investment in the lifelong skills of our workforce." The minister said that the $6800 per job compares favourably with the cost to the province of training business students in the community college system. Mr. Harrison said CIBC's investment in the Halifax banking centre is an excellent example of what can be accomplished when government and business work together. "We're looking forward to arranging more training partnerships with the private sector." -30- Contact: Steve Warburton 902-424-0927 trp Oct. 20, 1995