UBS overhauls pay policy for 10,000 employees: Financial Times


FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File Photo

(Reuters) – UBS AG (UBSG.S) has overhauled its pay policy for 10,000 staff in an attempt to reduce uncertainty about bonuses and cut the amount of time managers spend on allocating them, the Financial Times reported on Sunday.

Employees working in the Swiss bank’s “corporate center”, which includes human resources, marketing and communications, will no longer receive variable bonuses, the FT said.

UBS was not immediately available for comment.

Reporting by Gaurika Juneja; Editing by Dale Hudson

Products You May Like

Articles You May Like

Putin to Turkey and Iran: We must crush militants in Syria’s Idlib
Denver union, officials to reconvene as schools strike enters second day
Newer businesses drive Cisco’s earnings beat; shares rise
Drug lord, escape artist ‘El Chapo’ convicted by U.S. jury
Supreme Court Justice Ginsburg back at court after cancer bout

Leave a Reply

Your email address will not be published. Required fields are marked *