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Credit Suisse Should Scrap Board Bonuses, Swiss Bank Union Says

  • Bank should invest in technology training for older employees
  • Follows Credit Suisse full-year 2017 earnings on Wednesday
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Credit Suisse Group AG’s top leadership should scrap their bonuses for 2017 and instead invest the money in staff development, according to a Swiss union.

“Restructuring and job cuts alone are no real solution” to improve earnings, the Swiss Association of Bank Employees said in a statement on Thursday. The union said the lender should invest in training for older employees to get them up to speed with digital developments. The bank’s Swiss unit shouldn’t bear the brunt of the restructuring while Credit Suisse’s foreign operations post losses, the body said.