Salem Radio Network News Sunday, September 25, 2022

Business

Credit Suisse changes bonus structure for senior staff -memo

ZURICH (Reuters) – Credit Suisse has announced changes to its bonus scheme for senior staff after what it described as a “difficult” 2021.

The bank, which has been hit by a string of scandals and losses, said it will “reduce the portion of discretionary variable compensation that is deferred.”

The changes apply to staff who earn more than $250,000, the bank said in a memo seen by Reuters and confirmed by the company.

(Reporting by Oliver Hirt, writing by John Revill; editing by Jason Neely)

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