Home Stock Credit Suisse extends time-off benefits for Swiss staff
imageStock Markets15 minutes ago (Sep 27, 2021 06:20AM ET)

(C) Reuters. FILE PHOTO: A Credit Suisse sign is seen on the exterior of their Americas headquarters in the Manhattan borough of New York City, September 1, 2015. REUTERS/Mike Segar/File Photo

ZURICH (Reuters) – Credit Suisse (SIX:CSGN) will extend time off for childcare and holidays and will let senior managers take sabbaticals under new rules for Swiss staff to take effect next year, Switzerland’s second-biggest bank said on Monday.

“Helping parents with childcare and encouraging staff to regularly take time off to rest are a priority for Credit Suisse,” it said in a statement, citing increasingly diverse family configurations and the need for regular breaks from work.

The move comes as banks consider whether traditional working conditions are still relevant as they look to attract a more diverse workforce.

Maternity or adoption leave for the primary caregiver will be 26 weeks, while paternity or adoption leave for the secondary caregiver will increase to six weeks from 12 days currently.

If both parents work at Credit Suisse, they can split 10 weeks of parental leave as they choose after the 16th week of maternity leave, or over the full leave period for adoptions.

If managers approve, both types of leave can be taken in the form of part-time work within a year of the birth or adoption.

The bank will also grant additional days off to longstanding staff. After five years, staff can take an extra five days of paid leave, rising to 10 days after 10 years, then 15 days every five years. Swiss workers typically get five weeks holiday a year.

Members of senior management who are at least 50 years old and with at least 10 years of service can also take a sabbatical of two or three months on a reduced salary.

“We view our conditions of employment as a conscious and strategic investment that pays off not only for our employees, but also for the bank and our clients,” said Claude Taschler, head of human resources for Credit Suisse Switzerland.

“Promoting diversity and including people with different views and needs are fundamental to our success.”

Credit Suisse extends time-off benefits for Swiss staff

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Credit Suisse extends time-off benefits for Swiss staff



Latest News