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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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.
February 2021 Unemployment Update Registered unemployed figures for February 2021 from the State Secretariat for Economic Affairs (SECO). What was the total number of people unemployed in February 2021 in Switzerland? According to surveys by the State Secretariat for Economic Affairs (SECO) a total of 167,953 unemployed persons were registered with the Regional Employment Centres (RAV) at the end of February 2021. The decrease of unemployed persons registered with the regional employment centres (RAV) was down by 1,800 on 31 Jan 2021. Here begins the fun and games as many long-term unemployed start to drop off the unemployment register. The hidden “job seekers” and mature age (over 45yrs old as well) who will live off their pensions and savings and de-register make this decrease “fiction” not fact. What was the unemployment rate in Switzerland in February 2021 as compared to January 2021? The registered unemployment rate in Switzerland in February 2021 was 3.6% down by 0.1% on the rate for January 2021. How did the number of people unemployed in Switzerland in February 2021 compare to 12 months earlier in February 2020? There was an increase in the number of people unemployed in January 2021 as compared with January 2020
January 2021 Unemployment Update Registered unemployed figures for January 2021 from the State Secretariat for Economic Affairs (SECO). What was the total number of people unemployed in January 2021 in Switzerland? According to surveys by the State Secretariat for Economic Affairs (SECO) a total of 169,753 unemployed persons were registered with the Regional Employment Centres (RAV) at the end of January 2021. The increase of unemployed persons registered with the regional employment centres (RAV) was up by 6,208 on December 2020. What was the unemployment rate in Switzerland in January 2021 as compared to December 2020? The registered unemployment rate in Switzerland in January 2021 was 3.7% up by 0.2% on the rate of 3.5% in December 2020 to 3.7%. How did the number of people unemployed in Switzerland in January 2021 compare to 12 months earlier in January 2020? There was a significant increase in the number of people unemployed in January 2021 as compared with January 2020 in Switzerland. The increase in the number of registered unemployed people was 48,735 people, up by 40.3% on the number unemployed in the month of Jan 2020. What was the youth unemployment situation in January 2021 Youth unemployment (15-24 year olds)
October Unemployment figures from the State Secretariat for Economic Affairs (SECO) awaited. October 2020 Job Cut Announcements 30/10/2020 Swarovski shareholders approve 6,000 job cuts and hundreds of store closures Swarovski shareholders approved the biggest overhaul in the crystal maker’s 125-year history, including 6,000 job cuts, after years of heated discussions among factions of the founding family. The decision means various Austrian and Swiss units will be folded into an Austrian family company with the headquarters remaining in the Alpine town of Wattens, near Innsbruck. The new structure should allow faster decisions about new products, personnel and investments, management has said. While legal disputes are likely to follow, the company has said it won’t stop the process. Buchbauer has said the company needs to offer fewer but more exclusive items under its own brand, and cut back its network of 3,000 boutiques. The 6,000 previously announced job cuts equal about 20% of Swarovski’s workforce. The turnaround will take two to three years to execute as sales are expected to fall by about a third this year. Read Full Press Release On Bloomberg.com 12/10/2020 RUAG International reacts to Covid-19 impact and accelerates job cuts RUAG International will accelerate its transformation to ensure its
According to surveys conducted by the State Secretariat for Economic Affairs (SECO): 148,560 unemployed people were registered with the regional employment centers (RAV) at the end of September 2020. This was a reduction of 2,551 than in August. The unemployment rate reduced by by 0.1% from 3.3% in August 2020 to 3.2% for September. Compared to the same month last year ( September 2019), unemployment has increased by 49,462 (+49.9%). Unemployment figures for September 2020 for those aged 50 to 64 in Switzerland The number of registered unemployed 50-64 year old people increased by 41 (+0.1%) to 39,876, an increase of 12,455 people (+45.4%) when September 2020 is compared to September 2019. Job seekers in September 2020 There are a total of 238,145 registered job seekers, an increase of 930 when compared to August 2020. The year on year comparison means there has been an increase of 66,722 people (+38.9%). Notified job vacancies in September 2020 As of July 1, 2018, the job registration requirement for professions with an unemployment rate of at least 8% was introduced throughout Switzerland. Thus was reduced to 5% as of January 1, 2020. The number of job vacancies registered with the REOs fell by
The latest employment figures show that 85,000 fewer people are employed now than at the same time in 2019. This is the biggest year on year decline since 1993. The second quarter federal labour statistics late August show a 1.6% reduction in employed people in Switzerland compared with this time last year. The drop was slightly higher for women than for men (1.7% and 1.5% respectively). Those in partial unemployment are not classified as out of work, in the statistics. The over 50 long-term unemployed and those off the RAV register seeking work are also not included. The Federal Statistical Office (FSO) said weekly hours per employed person fell by 9.5% in this period and there is a gender imbalance as more women were impacted. 223,000 people are now unemployed – that’s 17,000 more than 2019. Young people (15-24 years old) were particularly affected by the crisis: while the unemployment rate for the whole population climbed from 4.2% to 4.6%, it increased from 6.2% to 8.4% for this segment. Between the second quarter of 2019 and the second quarter of 2020, the number of employed Swiss nationals fell by 2.4%, however when residents with permits are reviewed, there were some