Credit Suisse looks to speed up cuts as revenue outlook worsens
2022-12-02
Swiss bank Credit Suisse is looking for ways to accelerate cost cuts announced just weeks ago as client outflows and a slowdown in activity weigh on its revenue outlook, according to three people with knowledge of the talks.
The cost savings are likely to involve more job cuts than previously announced for the first wave of reductions, including in its mainstay wealth business, said the sources, who asked to remain anonymous because the discussions are private.Credit Suisse is cutting about 5% of its private banking headcount in the Asian financial hub of Hong Kong, two of the sources told the Reuters news agency, targeting mainly mid- and junior-level bankers, in cuts that go deeper than reductions outlined before.Credit Suisse declined to comment on job cuts in the Hong Kong
Government firms up plans in case of gas outage
2022-11-17
In case of a shortage, households and businesses which heat with piped gas would be asked to lower temperatures to 20°C, the government has said.
Women soldiers in peacekeeping SWISSCOY contingents
2022-11-15
Women are still a minority in international peacekeeping operations. The Swiss armed forces’ contingent in Kosovo, SWISSCOY, shows just how important their role can be.
We spent a day with Iris Probst, who now just completed her training module which is part of her three-month pre-deployment preparation at SWISSINT, the Swiss armed forces’ centre for international peacebuilding in Stans-Oberdorf, in canton Nidwalden. She has now been posted to Kosovo for six months, as deputy press and information officer with the Swiss peace-support mission, SWISSCOY.
The proportion of women in the peacekeeping force has risen steadily in recent years. In 2020, around 60 women were sent on mission to Kosovo; by September 2022, this number had risen to nearly 70.
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Swiss diaspora more keen on pension reform and animal welfare
2022-09-27
While the pension reform, which raises the retirement age for women from 64 to 65, was narrowly accepted in Sunday’s vote, the Swiss Abroad were more strongly in favour. The majority of voting expats were also in favour of abolishing factory farming and withholding tax unlike resident citizens.
Pauline Turuban
My specialty is telling stories, and decoding what happens in Switzerland and the world from accumulated data and statistics. An expatriate in Switzerland for several years, I have also worked as a multimedia journalist for the Swiss national broadcaster.
More from this author
| French Department
Like their compatriots, the Swiss Abroad voted on Sunday in favour of both the pension reforms in Switzerland. But while the amendment to the law, which raises the
Competition authorities probe Novartis over suspected patent abuse
2022-09-18
The Swiss competition commission (COMCO) has opened an investigation into suspected unlawful use of a patent to reduce competitive pressure by Swiss pharmaceutical giant Novartis.
Home ownership remains a mirage for most Swiss
2022-09-13
Many Swiss dream of owning a single-family home in the countryside and passing it on to their children. For most, this dream is increasingly unrealistic.
Migrant workers head back to Switzerland as Covid-19 restrictions end
2022-09-10
Switzerland has returned as a popular destination for foreigners looking for work after two years of Covid-19 restrictions. Over 75,000 people have immigrated to Switzerland so far in 2022, driven largely by an economic boom and unemployment levels falling to a 20-year low.
Your views on female conscription
2022-09-06
By the end of this decade, the Swiss army expects to have trouble recruiting enough personnel. So the defence department is studying the option of drafting women alongside men for military service or an alternative civilian service. We recently asked readers to send in their views on gender-neutral conscription.
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