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CS staff have been making a good trip to the office every day for a year, and today they don’t know if they will be fired. UBS plans to cut 3,000 jobs in Switzerland as a result of the bank merger. It’s unclear how many layoffs have been announced so far, but this much is certain: The lion’s share of painful layoffs are still to come.
This is reflected in the staff. “People are tired,” says Natalia Ferrara (42), managing director of the Swiss Association of Bank Personnel (SBPV), in an interview with Blick. The association closely supports bank mergers, including layoffs. It’s not just the uncertainty about a possible termination that’s tiring. But also the organization of the merger. “It’s like people have three jobs at once,” says Ferrara. Especially managers. «First: daily chores. Second: the unification project. Third: Accompany the team, listen to people, motivate them every day.” Ferrara warns that UBS needs to be careful with its staff.
Is there a shortage of qualified labor? Surplus of skilled workers!
No wonder so many people are looking for other options. But this is not easy. “The Swiss financial sector is probably one of the only areas in the whole of Europe where there is currently no labor market, but rather an oversupply of workers,” predicts Klaus Biermann (48), a headhunter specializing in the financial sector.
Only those with a new job should go. But even then it can be difficult. Ferrara knows employees who received job offers, left CS, and did not survive the trial period at the new location. “You are now left unemployed and without a social plan.”
Apéro without new CS counterparts
Those who remain are working hard to prove that they are still needed at the new UBS. “You think twice about whether you should go on vacation or stay home sick,” says Ferrara. There is a fear that anyone who does not go the extra mile will be under siege.
Those still on board today are often promised jobs at the merged UBS. However, it is still completely unclear in most parts who will get how much power in the new organization and who will lead the newly assembled teams.
It’s not surprising that the elbows are extended. Many CS employees see themselves at a disadvantage compared to their new UBS colleagues. One hears: “We are treated like second-class employees.” CS employees don’t know where their new office is, who leads them, what their job is, or where the next team snack will take place. This may seem trivial in the face of the largest bank failure in Swiss history. But for staff, especially in these uncertain times, whether and where they belong is crucial.
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.
