Credit Suisse has communicated to its personnel that the customary compensation packages, including bonuses and salary increments, will continue to be disbursed. The bank has taken this measure to uphold the usual operations of the organization.
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Credit Suisse has issued a formal statement to its employees stating that there will be no alterations to payroll arrangements and that bonuses will be disbursed as scheduled on March 24th.
The bank has already distributed bonuses in several countries and anticipates no modifications to this practice in remaining jurisdictions, as per the contents of the internal memorandum.
In a momentous development that was brokered by the government, UBS Group AG has reached an agreement over the weekend to acquire Credit Suisse.
This strategic acquisition is aimed at stemming the crisis of confidence that had begun to permeate global financial markets.
The transaction will be completed through an all-share deal, with the Swiss bank acquiring its rival for a sum of 3 billion francs ($3.3 billion).
The deal includes substantial government guarantees and liquidity provisions, making it a comprehensive and consequential undertaking.