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Economy - New in Switzerland: Bank Valiant is shortening holidays for older employees

New in Switzerland: Bank Valiant is shortening holidays for older employees

As of January 1, 2019, there are no more additional vacation days in old age. The Valiant vacation cut is a novelty in Switzerland.

In most companies, it is customary to give employees over the age of 50 additional vacation days. This is how it was so far at Valiant Bank, which basically gives almost a thousand employees five weeks vacation and those aged 56 and over an additional vacation day per year - up to a maximum of six weeks from 60.

But that is over now. As of January 1, 2019, there are no longer any additional vacation days in old age, as spokesman Marc Andrey confirms on request. The reason for the decision is equal treatment: "It is important to Valiant that all employees, regardless of their gender, age or other personality traits, are treated equally with the same performance and behavior." Valiant emphasizes that the new conditions of employment include the purchase of up to 20 additional days of vacation and the right to work part-time. However, both were already partially possible.

Decision causes criticism

The Valiant vacation cut is a novelty in Switzerland. This is shown by a survey of banks, experts, trade unions and associations. At the largest Swiss trade union Unia, one hears of such a case for the first time. The employers' association of banks in Switzerland is also unaware of such a trend.

Accordingly, the step has caused internal criticism, as a spokeswoman for the Swiss Bank Employees Association says. Some employees tried to defend themselves against it, but did not find enough support from their colleagues. The association fears that the employees are creeping to save. "It's no secret that older employees have a difficult time at banks."

The Commercial Association declares that the most important banks in Switzerland, such as UBS, CS, Raiffeisen, Zürcher Kantonalbank or Julius Baer, ​​are not allowed to arbitrarily shorten the holidays of older employees in accordance with an industry agreement. "The Valiant can do this, however, because it has not signed the corresponding agreement on the terms and conditions of employment for bank employees," says a spokeswoman. Many other banks have not signed this agreement either, but none of them plan to change it, a sample shows. The cantonal banks of Lucerne, St. Gallen and Aargau continue to grant their 60-year-old employees six weeks of vacation. At Migros Bank there are even seven weeks of vacation from 60.

Wages in Switzerland: