CIBC fires 42 year-old for being too old

4 posts / 0 new

Thu, 2009-12-31 16:37

Doug

A London investment banker who was dismissed by Canadian Imperial Bank of Commerce (CM-T 68.15 0.23 0.34%) at the age of 42 has won an unusual age discrimination case....After the credit crisis hit, and CIBC was stung by exposure to other complicated investment products , the bank restructured his division and Mr. Beck lost his job in May of 2008.

The bank said that the position was being eliminated, however, the panel agreed with Mr. Beck's claim that CIBC was rehiring and looking for a “younger” candidate.

Their mistake for doing this to someone who could afford a lawyer for once.

Thu, 2009-12-31 16:51

Unionist

This is a non-story. This dude earned $1.5 million last year. Let me know when age discrimination against middle-aged male banker types starts to become a systemic social problem, whether in the U.K. or elsewhere.

Thu, 2009-12-31 17:21

Fidel

The bastards have made record profits and claim they can't afford to pass on a rate cut to ordinary Canadians while cutting services across the country.

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Mon, 2010-01-04 09:44

G. Muffin

I agree with Unionist.

Next story, please.