Credit Suisse Tells Staff Bonuses Will Still Be Paid, Go to Work
- Lender says offices remain open, staff to come to work
- UBS agreed to buy rival to contain crisis of confidence
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Credit Suisse Group AG told staff that promised bonuses and pay increases will still be paid as the bank seeks to keep “business as usual” after a tumultuous week that ended in a takeover by its fiercest Swiss rival.
There will be no changes to payroll arrangements and bonuses will still be paid on March 24, Credit Suisse said in an internal memo to staff. In many countries, bonuses have already been paid, and the bank doesn’t expect any changes for remaining jurisdictions, according to the memo. A spokeswoman confirmed the contents of the memo.