Credit Suisse addresses burnout with money rewards - report

Wednesday, 24. March 2021 19:39

Credit Suisse has responded to employee complaints about severely long-hour weeks and decided to give entry- and mid-level investment bankers a special $20,000 bonus labeled as "one-time, cash lifestyle allowance", as well as a salary increase in the near future, CNBC reported on Wednesday citing sources familiar with the matter.

The decision comes after Goldman-Sachs analysts published a survey that revealed brutal working conditions, involving 100-hour work weeks and 5 hours of daily sleep. The employees complained about declining health and shared the high likeliness of them quitting in 6 months.

In response to the same issue investment bank, Jefferies gifted associates Pelotons and Apple products, while Citigroup CEO Jane Fraser called announced video-call free Fridays and launched a corporate holiday, all to address employee burnout.

Related Links: Credit Suisse Group
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Breaking the News / LH