Swiss Exporters Mull Euro Wages to Ease Franc Gain
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Swiss companies are taking matters into their own hands as the central bank shows little willingness to weaken the franc after it surged to a record.
Lonza Group AG, a Swiss chemicals maker, is extending work hours without additional pay, while the country’s Labor Union Federation representing about 380,000 workers said it’s in talks with companies about taking steps such as paying wages in euros and pegging salaries to exchange-rate moves. ABB Ltd., the world’s largest maker of power-transmission gear, is weighing whether to buy more parts from the euro region to lower costs.