Guess what I heard?

A big swiss bank is undergoing tremendous pressure to restore shareholder value.
The quickest way and politically correct way is to reduce headcount.

This bank has announced some massive headcount reduction, including retrenching people from Switzerland.

FACT: The bank HR dept officially released news that the Swiss government allegedly will pass a directive to the immigration office to hinder or refuse the renewals of foreigner work permits.

The HR manager claimed that meetings with the swiss authorities will take place soon to mitigate this threat.

This effectively forces the bank to release the foreign workers, in favour of retaining the Swiss employees.

Fact or myth?

I am unsure if this is a conspiracy of soft-telling the foreign workers in this bank to start their job hunting.

Or is the swiss authorities really capable of such xenophobic practises at that level?

Go ahead gentlefolks, comments please?

If true, it's only xenophobic to the same level as the current legisaltion:

Swiss guys get the bullet = Swiss guys vailable that could do the job = valid reason to refuse foreigners work permit?

Or is that too simplistic?

I am assuming that you mean UBS although you specifically did not
say so.

The bank knows that to succeed it will need foreign talent, especially
in IT. So, I think it sounds like a myth.

eh boss, the word in bold, you do mean "rumour" rite? someone is gonna come along and offer u a dictionary soon

If this info is true, isn’t that illegal and against human right laws and EU law. Oh wait a minute; Switzerland is not part of the EU.

Effecting the new immigration law will not be a good move for the Swiss, they will also loose as well, think about all the taxes that will be lost, the skills, all aspect of the Swiss economy will be affected. I am sure this is a wind up. Let's wait and see.

Except while the bank knows that, the immigration authorities may well have other ideas?

i think it's a myth... "a friend of mine" works in a bank going through a similar process, and he told me that all the people he knew who were invited to look for opps elsewhere, were swiss, and none of the foreign talent was kicked out... it's a third party source though...

"hinder or refuse" is not a black and white decision though is it.

There are many types of foreigners working in Switzerland. Perm/contract, L, B, C permit. Single/married/children. Property/no property. EU/non EU.

From what I understand speaking to people at the RAV info meeting a while back it is not as easy to kick people out as many of us would believe, whether they are a drain on the economy or not, but I guess that's where these initiatives come from.

I've found the state pretty compassionate whenever I've dealt with them and pretty understanding of circumstances, I think it is unlikely I would be refused a work permit renewal whilst my missus and son stay here on their C-permits.


EDIT: This would also apply to many C-Permit holders that have lived here their entire life I guess.

Laoban,

FACT: Bank HR released this news officially.

Alleged: Swiss authorities will pressurise the bank to retrench foreigners in favour of Swiss, by refusing to renew existing work permits.

HAT

PS: I got interested in this news because, I just got my B permit renewed today (papers in my hands).
I thought this could be an internal ploy by the bank HR themselves to quietly ask the foreigners to make way for the swiss?
Only a guess.

won't they be SoL when considering EU people?
Is it posted on Compass?

Or they are trying anything they can to force resignations before they have to pay redundancy.

You say FACT:

You have not mentioned any sources for this FACT. If it is not
a credible source, it must then be just a rumour.

boah! was für ein Skandal!

(translates: "phoah! what a scandal!" sorry, tend to make exclaimations in german when outraged by local news... kidding!)

sir, can you please name your source(s). also, did you check the expiration date on your permit?

How much source verification is needed?

I said "Bank HR Dept officially released this news" via all the managers in the team meetings throughout this bank.

Bank HR meeting with swiss authorities is scheduled for end August 2008.

As I said, the release of this news by HR is a fact.

The contents of this news may be a concoction of HR policies or someone is playing a conspiracy ploy on the foreigner workers here.
This is unverifiable, as yet.

HAT

ah ok, now i understand. the "fact" is actually inside info...sorry, my bad...

indeed it seems to be nowhere in print.

I must talk to the managers I know "there". Hopefully the non-Swiss ones survive

Indeed it is NOT in print anywhere.

But the team managers said this is "official news" from the HR manager/director himself and this news should be dissimilated to all teams who have foreign work permit holders.

"Yellow cards"?

Worrisome....

so you're suggesting this is coming down from GMB level with the blessing of JJ as an "answer" to the current problems?

i imagine someone might leak this info to the papers ...

Not in print = not official. I.E. We are going to make something up to encourage people to resign rather than have to pay redundancy packages.

The "government" is very unlikely to take foreigner-unfriendly measures just for the sake of UBS that will affect all other industries indiscriminately.

Use your brains for a minute please.