Switzerland temporarily suspends deferred bonuses for Credit Suisse staff

News Team, 22/03/2023

The Swiss Federal Council has temporarily suspended Credit Suisse from paying staff deferred bonuses for the financial years up to 2022.

This comes after the Swiss Federal Financial Ministry said it had imposed remuneration related measures on the staff of Credit Suisse as a result of the use of taxpayer funds to facilitate its recent merger with UBS.

Credit Suisse management tried to avoid a mass walkout of staff by promising to maintain planned pay awards, according to...

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