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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Inform others and share Share on facebook Facebook Share on twitter Twitter Share on linkedin LinkedIn 08.08.2020 – ZURICH The Corona crisis and the full impact of the COVID-19 pandemic continues to dominate the Swiss labour market as unemployment remains well above 2019 figures for the summer of 2019. Job seekers are seeing some movement with new hiring increasing in July above the number hired in June. The recorded unemployment for July 2020 was a total of 148,870 people who were out of work. This compares to 97,578 registered unemployed for July 2019. That number is 1419 fewer than in June and “Kurzarbeit” (Swiss government supported employment scheme for short-time working) has enabled many to keep their jobs for the moment. The unemployment rate remains close to 3.2% which is still better than predicted during the height of the pandemic in April and May. Zurich has a problem, just like elsewhere in Switzerland because the unemployment issue affects the over-45s and the young disproportionately. Youngsters leaving school seeking an apprenticeship are struggling to find one, in 2019 it was easier and school-leavers are also struggling. In 2019 unemployment for the young was almost half with only c.300 young adults without work.