Tag Archives: Business & Economy

A recently published survey shows 23% of employees in Switzerland reported a risk to safety or health due to their work in 2021, compared to a European average of 34%. Photo by Life Of Pix on Pexels.comIn 2021, 23% of employees in Switzerland identified a risk to safety or health due to their work. The rate across Europe this was significantly higher at 34%. Key areas of concern in Switzerland were work related strain on the musculoskeletal system (55%) and stress from a high work...

The rushed sale and merger of Credit Suisse into UBS is set to involve around 3,000 layoffs, mainly in the Zurich region, announced UBS this week. The large number of resulting jobseekers in a single industry is likely to make the job search difficult for those losing their jobs. The mood in at the Uetlihof Credit Suisse office in Zurich is depressing, according to various media reports. Credit Suisse © Octavian Lazar | Dreamstime.comUBS has said that there is no other way, reported...

Over the first half of 2023, the number of foreign residents in Switzerland rose by 47,200. Most came from the EU to work, show recently published statistics. Photo by Pixabay on Pexels.comAfter deducting the number of people leaving Switzerland, a net 9,384 people were added to the resident population during the first half of 2023. Much of the movement was driven by those moving from EU nations. Nearly 70% of those arriving were from the EU and 84% of net migration was from the EU....

The Swiss union association Travail.Suisse is demanding salary increases of between 3.5% and 4.5%, depending on the sector, for all workers reported RTS. Photo by Anamul Rezwan on Pexels.comThe organisation argues that the demanded hike is justified as a way to keep salaries aligned with cost of living increases and rising productivity. It says that costs such as healthcare and rent are the main financial challenges for workers. It also argues that rising productivity gives companies...

In 2012, Switzerland produced close to 27,000 tons of Emmental, its famous holey cheese. By 2022, production had fallen to below 15,000 tons, a fall of around 45%, according to reports from the industry association representing the brand. Emmental © Richard Villalon | Dreamstime.comThe force behind lower production is lower demand. The cheese is coming under increasing pressure on the world market, according to SRF. Is there a problem with the cheese’s image? Not according to Urs...

On 11 August 2023, UBS announced it had ended the contract it had with Switzerland’s federal government that guaranteed CHF 9 billion of potential losses. The contract also required the Swiss National Bank (SNB) to provide liquidity assistance loans of up to CHF 100 billion. All loans from the SNB have now been repaid. © Simon Zenger | Dreamstime.comThe ending of the contract means Swiss taxpayers are no longer on the hook for any potential losses associated with the rushed merger of...

In 1941, George de Mestral, while hunting in the Jura, with his son and dogs, noticed how the plant burdock stuck with microscopic hooks to his trousers and to the ears of one of his dogs. Fifteen years later the strong-willed Vaud handy man had turned his observation into something that would become a household name. Wild burdock_© Olga Budonna | Dreamstime.com He carried his hunting trip observation around in his head for ten years before realizing it could be used as an alternative to a...

The government of the canton of Ticino is strongly opposed to tolls for the Gotthard road tunnel, reported RTS this week. Gotthard Tunnel © Stefano Ember | Dreamstime.comThe idea of charging a toll for the highly congested Gotthard tunnel linking Ticino, which lies south of the Alps, to the rest of Switzerland, has been discussed for some time. In a public poll run at the end of June 2023, 69% of those surveyed said they believed a toll was needed, compared to 28% who were opposed to...

This week, Swiss Post announced it would increase the cost of sending letters and parcels from the beginning of 2024. © Swiss PostAt the beginning of 2024, nearly everything is set to rise in price as the Swiss VAT rate jumps from 7.7% to 8%. In addition, more and more companies are joining the party, pushing up their prices. From the beginning of 2024, A and B class letters will cost 10 cents more to post, and parcels will cost a further CHF 1.50. These costs will find their way into...

On 28 June 2023, Switzerland’s Federal Council approved a budget for 2024 with a deficit of CHF 6.7 billion. © Guenter Purin | Dreamstime.comSwitzerland’s constitution includes a section designed to constrain spending to prevent the government from living beyond its means. The debt brake, as it is known, allows a limited degree of annual overspending that is expected to be covered by future surpluses. However, there is a wrinkle. The debt brake refers to ordinary expenditure, which...