September 2022 Company Employment and Job News In Switzerland 07.09.22 Switzerland – Russian Sberbank becomes Swiss with a new name and over 60 jobs are saved The Russian owners and related intermediaries or investors within the group owning Sberbank (Switzerland) AG are selling the institution to Geneva-based m3 Groupe Holding SA. FINMA is closely overseeing the transaction and has temporarily lifted its protective shield and its control measures at Sberbank (Switzerland) AG to enable the transaction to complete. The Russian parent company of Sberbank (Switzerland) AG is selling its holding to Geneva-based m3 Groupe Holding SA. The “new” bank will continue its operations using its existing banking and finance license but under a new name. TradeXBank AG is buying Sberbank Switzerland which made c. CHF25 million profit ( 7-8%) last year with revenues of around CHF3 – 4 billion to CHF4 billion. Despite withdrawals of an estimated CHF1.5 billion in assets recently by non-sanctioned Russians, the bank will sit firmly in the top 20 largest Swiss banks. Link to: FINMA announcement 04.09.22 Zurich – Switzerland – Credit Suisse to shed 5,000 jobs near term in CEO re-organisation Credit Suisse has been like a cork bobbing up and down in
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July 2022 Unemployment Update Registered unemployed figures for July 2022 from the State Secretariat for Economic Affairs (SECO). What was the total number of people unemployed in July 2022 in Switzerland? The situation on the labour market in July 2022 According to surveys by the State Secretariat for Economic Affairs (SECO) of the local RAV offices, 91,474 unemployed were registered with the regional employment centers (RAV) in the month of July 2022, 1,037 fewer than in the previous month. The unemployment rate remained at 2.0% in the month under review, a marked decrease month on month compared to July 2021 when unemployment was 36,805 higher. Youth unemployment in July 2022 Youth unemployment (15 to 24 year olds) increased by 331 people (+4.3%) to 8,089, the good news, many found apprenticeships and other work compared to last year when the number of 15 to 24 year olds was 33.7% higher. Unemployed 50-64 year old “mature age” in July 2022 This statistic is a “view through a window” and whilst the number of unemployed 50-64 years fell by 969 people in the month of July, we all know the story is far more complex and many of the 10,833 people who are
January 2022 Unemployment Update Registered unemployed figures for January 2022 from the State Secretariat for Economic Affairs (SECO). What was the total number of people unemployed in January 2022 in Switzerland? Registered unemployment in January 2022 according to the State Secretariat for Economic Affairs (SECO) was a total of 122,268 people registered as unemployed. This was an increase of 540 who had registered at the RAV (Regional Employment Centres) on the number for December 2021. The unemployment rate remained at 2.6% in the reporting month. The headline comparison to the same month last year, was a reduction of 28% in the unemployment number ( 47,485 people). The comparison looks like a bright ray of sunshine, yet it masks the hidden problem of many people who came off the register or who decided not to continue to register as unemployed because they were not receiving any benefits. The Youth Unemployment Numbers For January 2022 Youth unemployment (15- to 24-year-olds) decreased by 169 persons (-1.6%) to 10,400. Again COVID issues mask the picture, a good number unable to secure an apprenticeship stayed on to study courses or “go back to school” because it was almost impossible to find work in 2021 for many.