CIBC confirms job cuts

CIBChas decided to "selectively reduce a number of positions," the bank confirmed in an email to CBC News Thursday evening.

Spokesman Kevin Dove did not specify which jobs would be cut or how many, but an article published Thursday on the Wall Street Journalwebsitesaid "more than500jobs"would be cut, citing anonymous sources.

• Canadian workforce at lowest level in 14 years in 2014

"These reductions reflect an overall alignment of our resources that allows us to better serve our clients and ensure that we are operating efficiently," CIBCsokesman Kevin Dove said in the email statement sent to CBC.

The bank says it will be a "significantnet recruiter" in 2015with more than 5,000 hires in the next year.

The bank says its total number of full- and part-time employees is up 1,800 over the last two years, to almost 44,500.