Business Standard

Credit Suisse tells staff bonuses will still be paid amid UBS takeover

There will be no changes to payroll arrangements and bonuses will still be paid on March 24, Credit Suisse said in an internal memo to staff

Credit Suisse
Premium

Photo: Bloomberg

Bloomberg
Credit Suisse Group AG told staff that promised bonuses and pay increases will still be paid as the bank seeks to keep “business as usual” after a tumultuous week that ended in a takeover by its fiercest Swiss rival.
 
There will be no changes to payroll arrangements and bonuses will still be paid on March 24, Credit Suisse said in an internal memo to staff. In many countries, bonuses have already been paid, and the bank doesn’t expect any changes for remaining jurisdictions, according to the memo. A spokeswoman confirmed the contents of the memo.

UBS Group AG over the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 20 2023 | 8:23 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com