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Sankt Gallen bank fires staff

Local News // Oct. 27, 2016
Sankt Gallen bank fires staff

The Sankt Gallen bank Notenstein La Roche is to shed around 100 jobs across Switzerland as part of a restructuring plan.

Notenstein La Roche has branches in thirteen Swiss cities, with its major operations running in St Gallen, Zurich, Basel,  Lausanne and Geneva. 

It is not yet known how each site will be affected but there are fears that the Lake Geneva region, where 40 staff are employed, could be badly hit.

The Geneva restaurant, Le Nonolet, which is owned by the bank, looks set to be one of the first casualties with its closure already slated by the bank.

The bank wants to cut costs in order to boost its profits.

Tags: bank, economy, jobs

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