At the end of May,  with Credit Suisse, after the collapse of the Swiss bank .

Just over a year later, the UBS Group has announced the signing of a redundancy plan. “The transfer of the Credit Suisse AG group to the UBS AG group, scheduled for October, and the mergers of six legal entities are at the root of this redundancy plan,” stated the Aleba, LCGB and OGBL trade unions in a issued on Tuesday 25 June. They “deplored” the fact that employees had to “unwittingly bear the brunt of this merger.”

The redundancy plan signed on 24 June provides for a first wave of redundancies in July, affecting 70 to 80 employees. A second wave could take place at the beginning of 2025 and could then affect 65 to 75 employees, say the unions. During the negotiations, the unions defended the right of salaried employees to favourable redundancy terms and managed to “cover the entire population up to and including 31 December 2025.”

The social plan as signed provides for the payment of extra-legal indemnities according to the age and seniority of each employee, the payment of a social bonus for some employees and a family allowance for employees with one or more dependent children. It also provides for support measures for employees made redundant, such as an outplacement or training budget, a social pool and special conditions for employees over 50.

This article was first published in French on . It has been translated and edited for Delano.