Retail giant Migros considers cutting 3,000 jobs
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A restructuring plan at retail giant Migros could see 3,000 staff members lose their jobs as the CEO, Mario Irminger, attempts to simplify the group’s complex structure. The job cuts arrive at an awkward moment for the labour market: a record number of Master’s graduates are now unemployed, with many reporting they would consider vocational training to secure work.
The banking union has warned that a further 12,000 jobs could vanish if stricter capital rules are applied to UBS. While the union has asked CEO Sergio Ermotti for help, it also noted that the job market is already strained and suggested that the country's highly paid bankers lower their expectations.
The race for a seat on the Federal Council has turned into a crowded and critical affair, with eight candidates from the UDC vying for a single vacancy. One frontrunner, Céline Amaudruz, is facing pushback from governance experts who suggest she has too many outside mandates to remain independent.