Credit Suisse says agrees pay increase for Swiss staff

ZURICH: Swiss bank Credit Suisse said on Tuesday it had agreed on pay increases for next year for its staff in Switzerland.

"The social partners have agreed on an increase in the total salary amount in accordance with the Agreement on Conditions of Employment for Bank Staff (ACEBS) of 0.75 percent for individual and performance-based salary increases for 2016," the Zurich-based bank said in a statement.

This applies to employees in Switzerland who are subject to the ACEBS up to and including assistant vice president level, the bank said, adding that salary increases negotiated in previous years were 0.75 percent for 2014 and 0.9 percent for 2015.