by Switzerland’s government recently voted for a ceiling on the salaries of those managing public companies such as Swisscom, Swiss Post, Skyguide and Swiss Rail. Andreas Meyer_© CFF_SBB_FFS In response, the board of Swiss Rail wrote to the Federal Council requesting it to soften its position. From 2020, the company wants to pay its nine senior managers CHF 5.89 million, including a salary of more than CHF 1 million to Andreas Meyer, the boss of the company. The letter said there was a risk Meyer would quit if no compromise could be found, according to the newspaper NZZ am Sonntag as reported in 20 Minutes. Simonetta Sommaruga, the minister of transport, has been putting pressure on the bosses of Swiss Post and Ruag, an aerospace and defense company, to cut their salaries by 4% to bring them
Topics:
Investec considers the following as important: Business & Economy, Editor's Choice, Politics, Salary caps Switerland
This could be interesting, too:
Investec writes Federal Council hopes to boost savings with pension change
Investec writes Switzerland’s cross border workers reach record level
Investec writes Swiss National Bank to issue new money
Claudio Grass writes Gold climbing from record high to record high: why buy now?
Switzerland’s government recently voted for a ceiling on the salaries of those managing public companies such as Swisscom, Swiss Post, Skyguide and Swiss Rail.
Andreas Meyer_© CFF_SBB_FFS
In response, the board of Swiss Rail wrote to the Federal Council requesting it to soften its position. From 2020, the company wants to pay its nine senior managers CHF 5.89 million, including a salary of more than CHF 1 million to Andreas Meyer, the boss of the company. The letter said there was a risk Meyer would quit if no compromise could be found, according to the newspaper NZZ am Sonntag as reported in 20 Minutes.
Simonetta Sommaruga, the minister of transport, has been putting pressure on the bosses of Swiss Post and Ruag, an aerospace and defense company, to cut their salaries by 4% to bring them under CHF 1 million, with no success.
Thomas Minder, a parliamentarian who launched a campaign against rip off salaries, also supported salary caps for managers of public companies.
In 2013, an initiative aiming to impose a maximum salary ratio of 12 to 1 for the highest and lowest paid members of a company’s staff, was rejected by 65.3% of Swiss voters.
Some in the Socialist Party threatened to launch another referendum on the subject.
More on this:
20 Minutes article (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.