Credit Suisse is said to have postponed bonus talks for some of its bank employees which could add to unrest.
Bonuses at Credit Suisse are typically paid at the end of February 2023, but in several cases, mandatory employee discussions for this are said to have been postponed, according to a «Bloomberg» (behind paywall) story citing people familiar.
Particularly affected are managing directors and directors. Previous reports indicated a halving of the bonus pool for 2022 to around one billion Swiss francs. In addition, several rules have been changed with the apparent intention of striking a balance between cuts and incentives to stay with the bank.
Increased Uncertainty
Credit Suisse declined to comment on the article to finews.com.
Such a decision increases uncertainty among Credit Suisse employees, Bloomberg further writes. The major Swiss bank is cutting jobs and spinning off parts of its investment bank into Credit Suisse First Boston, which will be merged with Michael Klein's investment boutique.
Credit Suisse will present its 2022 annual results on 9 February 2023.
