Swiss government orders Credit Suisse to halt bonus payouts to staffers

Swiss government won’t block bonus payments from last year that have been granted but are set to be immediately paid because it doesn’t want to penalize Credit Suisse employees ‘who did not cause the crisis’

Switzerland’s government said Tuesday that it’s ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS.

Late last week and into the weekend, authorities in Switzerland, backed by the central bank and financial regulators, scrambled to cobble together a $3.25 billion sale of Credit Suisse to UBS.

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