KEY TAKEAWAY BOX
- Eligibility: Former and current CIBC employees in specific roles from 1998-2024.
- Claim Deadline: March 25, 2024, for the first payment distribution.
- Settlement Amount: $153 million with minimum payments starting at $350.
- Distribution: Payments to be made in two stages, with specifics on dates pending.
- How to Claim: Submit a claim form with your employment details by the deadline.
- More Information: Visit HustleHub.ca for additional resources and support.
Attention, Hustlers! Have you previously or are currently working for CIBC in roles ranging from customer service representative to branch manager between 1998 and 2024? If so, you might be entitled to a piece of a monumental $153 million settlement in the CIBC class action lawsuit. This settlement is aimed at compensating for unpaid overtime, a concern brought to light by a lawsuit initiated over a decade ago. Here at HustleHub, we’re diving deep into what this means for you, how you can claim what’s rightfully yours, and why this case is a landmark moment in employment law.
Understanding the Case
In the heart of this legal battle was a claim against CIBC for not compensating employees for overtime, as mandated by the Canada Labour Code. The lawsuit, spearheaded by a former employee, exposed a culture where overtime was either not reported or outright denied, despite the extra hours put in to meet demanding sales targets and administrative duties.
Who’s Eligible?
| Role | Eligibility Period |
| Customer Service Representative | February 1, 1998 – March 25, 2024 |
| Financial Service Representative | February 1, 1998 – March 25, 2024 |
| Senior Financial Service Representative | February 1, 1998 – March 25, 2024 |
| Branch Manager | February 1, 1998 – March 25, 2024 |
Claiming Your Settlement
Key Dates and Payment Details
The settlement distribution is structured in two stages:
- First Distribution: Based on 70% of the net settlement funds, with an initial minimum payment of $350.
- Second Distribution: Includes the remaining 30% plus any additional funds, with specifics to be determined post-appeal.
Important: The claim deadline for the first distribution is March 25, 2024.
How to Claim
Eligible Hustlers need to submit a claim form, detailing personal and employment information alongside the duration of their employment within the specified period.
Eligibility Criteria
- Roles Included: Customer Service Representative, Financial Service Representative, Senior Financial Service Representative, or Branch Manager.
- Period: Employment between February 1, 1998, and March 25, 2024.
- Exclusions: Employees who have signed a release waiving their rights or opted out of the class action.
The Impact
This lawsuit not only highlights the importance of being compensated for overtime but also sets a precedent for employee rights in Canada. As Hustlers, understanding and advocating for your rights is crucial, and HustleHub is here to guide you through every step of the process.
For more detailed information on how to file your claim and ensure you receive what you are owed, visit our comprehensive guide at HustleHub.ca.
Remember, Hustlers, knowledge is power, and in this case, it could also mean compensation for your hard work. Stay informed, stay empowered, and let’s ensure you get every dollar you deserve from the CIBC class action settlement.