Deloitte attests that the Swiss economy has a high level of resilience
Above all, Deloitte sees the Swiss financial market infrastructure as crisis-proof.
tf. How well is Switzerland prepared for future pandemics, geopolitical tensions and climate change? The auditing and consulting company Deloitte has tried to answer this question with a “Resilience Barometer” for eight sectors separately. The result: the basic supply is quite stable overall.
The financial market infrastructure performed particularly well, with the exception of cash transactions. Despite its vulnerability to geopolitical tensions, energy supply is also said to be highly resilient to crises. Health care and logistics fare less well. Both areas are heavily dependent on the availability of staff and are therefore vulnerable to pandemics.
There could also be restrictions on the import of food in the event of a pandemic, warns. In longer-lasting crises, the militia system also reaches its limits. Of the three scenarios analysed, the pandemic is considered to be the crisis with the strongest medium-term economic impact.
The wage gap between men and women is narrowing only slowly
On average, men earn 18 percent more than women.
tsf. The wage gap between women and men narrowed slightly between 2018 and 2020 from 19 percent to 18 percent. As reported by the Federal Statistical Office (BfS) on Tuesday in its latest wage structure survey, these differences can be partially attributed to personal characteristics such as age, education, years of service or managerial positions. But the bottom line is that almost half of the wage gap between colleagues remains unexplained. This indicates discrimination.
According to the Federal Statistical Office, the unexplained portion of the wage difference has even increased: from 45.4 percent in 2018 to 47.8 percent in 2020. The unexplained portion of the wage difference corresponded to a gross amount of CHF 717 per month in 2020 (2018 : 686 francs). The higher the hierarchical level in the company, the smaller the unexplained proportion of wage differences. In senior management, it was 55.2 percent in 2020 (2018: 45.1 percent) and among non-managerial employees it was 81.8 percent (2018: 75.9 percent).
The disadvantage of women in working life is persistent, writes the Swiss trade union federation in a statement. In addition to the consistent implementation of the Gender Equality Act, sustainable improvements in women’s wages and progress in reconciling work and family are now needed. As long as the care of children and relatives is perceived as a private matter and deployment plans are not compatible with daycare opening hours, women would remain over-represented in low incomes and under-represented in high wages, according to the statement by the umbrella union.
Teva appoints former Sandoz CEO as CEO
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First he led the number two in the industry with Sandoz, now Richard Francis is moving up to head the world’s largest generics manufacturer, Teva Pharmaceutical Industries. From January 1, 2023, the Briton will replace Kare Schultz, who will retire after around five years at the helm of the Israeli group.
In the press release on the change in leadership Teva’s Chairman of the Board, Sol J. Barer, is quoted as saying that in Francis they have found the ideal person to lead the company “on its journey back to growth and leadership”. Teva has suffered from a loss of market share in recent years.
As head of the competitor Sandoz, which is currently still owned by the Basel pharmaceutical company Novartis but is to become independent in the coming year, Francis did not only cut a happy figure. He left his post head over heels after five years in office in the summer of 2019 and was replaced by Richard Saynor. Since then, Saynor has been pursuing the goal of contesting the market-leading position with Sandoz Teva.