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Salary Increases for Bank Employees for the year 2012

The Staff Council and employer representatives of Credit Suisse Group in Switzerland have reached a final agreement on the salary negotiations for 2012. The social partners have agreed on an increase of 0.5% for individual and performance-based salaries for 2012.

This provision applies to employees in Switzerland who are subject to the Agreement on Conditions of Employment for Bank Staff (ACEBS), up to and including those at Assistant Vice President level.

The salary increases negotiated in previous years were 1.5% for 2011 and 1.0% for 2010.