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UBS reorganises pay policy for 10,000 staff

February 12, 2019 00:00:00

ZURICH, Feb 11 (Reuters): UBS has reorganised its pay policy for 10,000 back-office workers, Switzerland's biggest lender said on Monday, changing how their bonuses are calculated.

The staff - mainly working in functions like human resources, marketing and communication - will have their bonuses shifted from a variable scheme to a fixed per centage of their salary.

The move aimed to reduce uncertainty around compensation rather than to scale back the amount paid, the bank said.

"While not guaranteed, variable compensation is anticipated to be around one-half of a month's salary. In a good performance year for the group, variable compensation can be higher," UBS said in a statement.

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