Up to twelve months’ salary payment: this is what the social plan for CS bankers looks like

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Changes are immediately applied to all new additions to the social plan, as the bank communicates it to its employees in an internal memo. Along with the harmonization, the more generous variant of the two social schemes will be used in the future according to the so-called “best” principle. As a result, various fringe benefits have been increased for certain employees in the social plan.

“Our belief in social plans is that we want to give employees time to find a new job,” Patrick Stolz, Head of Human Resources at UBS Switzerland, tells AWP. CS and UBS employees who have worked at one of the banks for at least ten years now have twelve months to find a new job. Before that, the two banks had different rules.

Equal time to look for a job

In the future, CS employees under 50 will have the same amount of time as UBS employees to look for a new job if they lose their jobs. Depending on the number of years of service, the duration of the continuous salary social plan is now between eight and twelve months for CS employees. Until now, they had only received seven months’ salary after being included in the CS social plan. From the age of 54, employees of both banks have twelve months to look for work, regardless of seniority.

The bank also increases its training and further education allowances to a maximum of CHF 12,000 per person. Previously, this amount was between 4,500 and 9,000 francs, depending on the social plan.

“Create a new team”

But Stolz explained that internal mobility is also very important. “With a possible internal change, we will set up a new team to support those affected by downsizing who want to stay with the company.” The aim is to ensure that employees stay with the company as long as possible with their skills and experience.

The changes were discussed with employee representatives of UBS and CS. According to Stolz they are “very happy” with the performance increase. (pbe/SDA)

Source :Blick