16:18 - 10.04.2023
April 10, Fineko/abc.az. The Swiss Federal Council (government) has instructed the Ministry of Finance to cut bonuses for thousands of representatives of the top management of Credit Suisse Bank totaling 60 million Swiss francs ($66.1 million), ABC.AZ reports with reference to the Financial Times.
In addition, the salary of managers of the first level will be reduced by 50% and managers of the second level by 25%.
"Such a differentiated approach takes into account the responsibility of the top management of Credit Suisse for the current situation of the bank," the newspaper quotes the statement of the Federal Council.
As the government noted, according to one of the articles of the Swiss law on banks, it can introduce measures related to wage regulation if a systemically significant bank directly or indirectly receives assistance from the state budget.
According to the publication, the decision was made after investors voted against paying bonuses to management at a shareholders' meeting on Tuesday.
