What he likely meant is that losing a low-paid job, i.e. falling back to unemployment insurance (which in Switzerland is 60% of your net salary, 67% if you have

What he likely meant is that losing a low-paid job, i.e. falling back to unemployment insurance (which in Switzerland is 60% of your net salary, 67% if you have kids) in Geneva often meant that someone would be unable to afford basic needs, with drastic consequences, e.g. losing their apartment. Makes sense since they barely get by with the full salary in the first place. With a high minimum wage this fall to 60% may mean they can get by until they are able to find another job.