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CS people want one thing: precision. Instead, new reports keep coming in from everywhere, like planned layoffs. This leads to even more uncertainty around the world.
According to a recent report from Bloomberg, 35,000 people will be laid off. The Swiss Bankers Association (SBPV) does not know if this is true. “Sergio Ermotti announced that the Swiss plans will be completed by the end of summer 2023,” a spokesperson said when asked by Blick. As such, the 16,000 Swiss employees may have to believe in the runoff cuts in September.
extreme insecurity
The frustration among CS employees is great. Phone lines get hot in SBPV. “After more than three months, uncertainty and frustration is mounting, especially because of such worldwide media reports,” the spokesperson said. UBS doesn’t exactly build more trust with its one-sided communication.
SBPV calls on UBS to seek solutions and communicate with social partners together with internal and external social partners in this process. This is the only way to provide the necessary stability for the Swiss financial centre.
Social plans are yet to be finalized
The SBPV describes the social plans as generous, but also emphasizes that the negotiations are not yet complete. The association welcomes UBS’s standardization of social plans. “So far these are only voluntary services,” the spokesperson said.
Among other things, long-term employees benefit: Both 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. This was announced to the AWP news agency by Patrick Stolz, Head of Human Resources at UBS Switzerland.
UBS boss Sergio Ermotti (63) has promised clarity by the end of the summer. So far happy with the integration of Credit Suisse.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
