This is to be distributed to executives for progress in the restructuring of the ailing bank, the British business newspaper wrote on Wednesday, citing informed people.
The bonus plan will benefit the “top” one percent of the workforce, or about 500 senior executives, it said. He should keep the managers motivated during the restructuring. The bonus plan must be approved by the shareholders at the upcoming general meeting. A Credit Suisse spokeswoman declined to comment on the media report when asked by the Swiss financial news agency AWP.
The top managers of the bank are threatened in the current year due to the deep red numbers of the big bank that they will not receive any bonus at all, the “FT” continued to write. Credit Suisse will report on its fourth quarter and full year 2022 on (tomorrow) Thursday. According to the analysts surveyed by AWP, it is likely to report a loss of around CHF 7.3 billion for 2022.
Meanwhile, the Bloomberg news agency reported that a number of lower-ranking CS bankers will have their 2022 bonus payments staggered throughout the year. The day before, the US news agency had already reported on the postponement of bonus talks with a number of employees.
Credit Suisse announced a far-reaching restructuring last fall. By 2025, the major bank wants to reduce its cost base by around 15 percent or around CHF 2.5 billion and cut around 9,000 jobs. In addition, the investment bank is to be downsized and parts of it are to be outsourced or sold.
/tp/cg/AWP/men
ZURICH (dpa-AFX)
Leverage must be between 2 and 20
No data
More news about Credit Suisse (CS)
Image sources: Pincasso / Shutterstock.com