CREDIT SUISSE employees in the United Kingdom that moved to UBS when two banks have been merged to a paid vacation unlike their colleagues, emphasizing the differences in staff benefits for almost two years after rescuing UBS mergers.
According to people who are familiar with the details, some united kingdom employees who previously worked for Credit Suisse can take up to three months of paid vacation, benefits offered by their former employer, but not UBS.
According to the program, the former employees of Credit Suisse can request additional leave every five years. The employees were paid full of salary during the first month, fell to 80 percent in the second month and 60 percent in the third, people say.
Although the legal merger of two banks was completed last year, some former Ukredit Suisse employees remained at their original contracts, which means they were entitled to benefits by their former employer, people added as SEEbiz.
The preservation of the annual holidays from the URED SUISSE emphasizes some differences in the benefits of the group staff in the midst of three-year integration of two lenders.
Banks used an annual vacation to try to reduce staff and improve retention, especially during a pandemic when there was a pressure to improve the balance between business and private life employees.
However, large investment banks began to remember with the benefits, and lenders such as JPMorgan Chase and Barclays have been demanding regularly visiting the office.
UBS is in the middle of the abolition of jobs, with 10,000 jobs discharged from the takeover 2023.
By the end of last year, he had a workforce of almost 109,000, but the executives plan the number of employees from 85,000 to the end of the integration process in 2026. years. The Financial Times reported earlier that the decrease will reach the release of workers and natural castings.
The heads of UBS have once feared the challenge of Credit Suisse staff integration, given that its former rival was far more willing to accept risky clients.
After the takeover, the President of UBS Colm Kelleher said that the bank was “worried about ‘cultural contamination’”, adding that they would have a “incredibly high scale for which we will bring in UBS.”
