UBS overhauls pay policy for 10,000 employees – FT
(Reuters) – UBS AG has overhauled its pay policy for 10,000 staff in an attempt to reduce uncertainty about bonuses and cut the amount of time managers spend on allocating them, the Financial Times reported on Sunday.
Employees working in the Swiss bank’s “corporate centre”, which includes human resources, marketing and communications, will no longer receive variable bonuses, the FT said.
UBS was not immediately available for comment.
(Reporting by Gaurika Juneja; Editing by Dale Hudson)