Employees Bonus Cut: Along with the dismissal of employees from Global to India, the bonus and salary of the employees are being cut. Big companies have joined this list. Compared to last year, the process of firing employees has increased this year.
Now another name has been added to this list. This company has cut the bonus of the employees by 10 percent. Citing behind the reduction in bonus, the company said that the company’s revenue has declined. On the other hand, there has been an increase in the salary of the CEO of the company.
The CEO of the company got this much salary
According to a Bloomberg report, UBS Group CEO Ralf Hammers has taken home 12.2 million Swiss francs, or $13 million, for his second year on the job. Whereas a year ago this amount was 11 million francs. In the annual report released by the company, the total bonus for the employees has been kept at $ 3.3 billion, while earlier it was around $ 3.7 billion.
The company had warned about the cuts
Hammers had earlier warned that bonuses could be cut if dealmaking did not return. He had said in January that comparisons are made on the basis of performance at UBS. Along with this, some other companies have also fired employees as well as retrenched.
The company suffered losses due to the termination of the deal
UBS Group had said that it is going to lay off its employees, citing the need to expand its business. However, after the end of a deal, the company had to suffer a lot. Let us tell you that Kolehar, the new chairman of the company, has taken 4.5 million francs.
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