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Credit Suisse employees in the United Kingdom who transferred to UBS when both combined banks still have the right to Saturday paid unlike their colleagues, emphasizing the inequalities in staff benefits almost two years after UBS rescue joining .
According to people known with the details, some UK staff who have previously worked for Credit Suisse can receive up to three months on Saturday paid, a benefit offered by their former employer, but not UBS.
According to the scheme, employees of the former Suisse Credit may require extra break every five years. Employees paid their full salary during the first month, dropping to 80 percent in the second month and 60 percent in the third, people said.
While the legal union of the two banks was completed last year, some former Credit Suisse employees in the UK remained in their original contracts, meaning that they were entitled to the benefits offered by their former employer, added people.
Sabbaticals preservation of the Suisse era underlines some divergence in the benefits offered to group staff between the three-year integration of two lenders.
Banks have used sabed permission to try to reduce staff burning and improve retention, especially during the pandemic when pressure to improve the balance and life of employees.
However, large investment banks have begun to return to Perks, with lenders such as JPMORGAN Chase and Barclays in recent weeks demanding more regular office participation.
UBS is in the midst of job cuts, with 10,000 roles accessed since receiving to 2023.
By the end of last year, it had a workforce of nearly 109,000 but executives are targeting a major number of 85,000 by the end of the integration process in 2026. Financial Times reported that landing will come from surplus natural.
UBS chiefs were once afraid of the challenges of integrating Suisse credit staff, given that his former rival had been much more ready to accept dangerous customers.
After highlighting, UBS leader Colm Kelleher said the bank was “concerned about” cultural pollution “, adding that there would be” a very high grass for what we bring to UBS “.
UBS said: “While UBS and former (Suisse loan) benefits packages vary in some respects, both are attractive and competitive with market conditions.”
She added: “Going to UBS contracts, the benefits of UBS employees will generally be implemented. All employees are informed of their benefits and the way forward. “
