Job cuts following Vontobel acquisition of Notenstein La Roche

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The Swiss Bank Employees’ Association (SBPV) has confirmed in a statement that about 50 people will be laid off in connection with the sale of Raiffeisen Switzerland private bank, Notenstein La Roche to Vontobel.

SBPV and the Personnel Commission of Raiffeisen Switzerland have negotiated a social plan for employees in the context of the social partnership relationship with Raiffeisen Switzerland and Arizon Sourcing AG, who are affected by the job cuts.

The negotiated social plan offers all concerned a fair solution. The affected workforce took note of the content of the social plan and unanimously approved it at a meeting.