Despite the takeover by UBS, Credit Suisse wants to pay its employees bonuses and salary increases.
This is reported by “Bloomberg”, citing an internal memo from the bank to its employees.
Anyone who has to leave the bank should still receive a “common market settlement”.
Credit Suisse is to be taken over by UBS for more than two billion Swiss francs after it tumbled in recent weeks and the stock plummeted. Despite the mismanagement, the bank plans, according to a “Bloomberg” message, scheduled to pay out bonuses on March 24th. Salary increases should also be paid out as planned. This emerges from an internal memo to the employees. In the annual report for 2022, Credit Suisse reported bonus payments of one billion Swiss francs.
Nevertheless, the takeover could mean the end of the traditional bank for many Credit Suisse employees. However, Credit Suisse has also announced that it intends to pay “customary severance payments”, the medium quotes from the memo.
In recent years, Credit Suisse has often attracted the attention of negative headlines. It was about money laundering, embezzled funds and dubious customer relationships. Then, last week, Saudi investors withdrew their confidence in the Swiss bank and the bank’s stock plummeted.
The Swiss National Bank therefore advocated a takeover by local rival UBS in order to avoid bankruptcy. “Any other solution would have triggered a financial crisis,” said Karin Keller-Sutter, Switzerland’s finance minister.