4 ms·
Not too good news for developers working for foreign companies in Switzerland. (Google, etc.). They just got 15% more expensive without a salary raise.
by sz4kerto 12y ago
Not too good news for developers working for foreign companies in Switzerland. (Google, etc.). They just got 15% more expensive without a salary raise.
- xianshou 12y agoBut all their CHF accounts just got 15% more valuable. I'd consider that excellent news!
- s3nnyy 12y agoI get my salary in CHF and I am quite happy as I transfer it regularly to EUR. Nothing changed for my Swiss colleagues who don't shop in Euros. Here the official reasoning of the SNB: http://www.snb.ch/en/mmr/reference/pre_20150115/source/pre_20150115.en.pdf http://www.snb.ch/en/mmr/reference/pre_20150115/source/pre_2... More of my experiences within Switzerland you'll find in here: "Eight reasons why I moved to Switzerland to work in IT" http://goo.gl/EIX4UX http://goo.gl/EIX4UX (Full disclosure: If you're from the EU and looking for a tech-job over here, I'd be happy to help out).
- sz4kerto 12y agoWell, in the short run, it's good news. In the longer run, it can mean hiring freezes and/or layoffs -- it's not really possible that 15% price increase does not change the demand at all.
- blfr 12y agoNothing changed for my Swiss colleagues who don't shop in Euros. Prices of foreign goods in Switzerland should slowly converge to the lower lever.
- levosmetalo 12y ago> I get my salary in CHF and I am quite happy as I transfer it regularly to EUR. If I were doing so I would hate myself for not keeping as much as possible in CHF and just converting today for a 15% more EUR.
- Ecio78 12y agothat's exact me, I worked in Switzerland for a bit less than a year and I kept an account there with what I earned.. I was planning to close my account as I've now moved but waited and today I woke up with this news. I just had a +15/20% on my money there :O now I just need to decide if I should keep them or convert to EUR and close the account :D
- MatthiasP 12y agoDefinitely wait atleast until the elections in Greece are over.
- levosmetalo 12y agoThat's also a speculation. If decision to kick out Greece comes, Euro might just end up a bit stronger.
- rayiner 12y agoLiving in Europe seems so exotic to me, what with all the currency exchange and whatnot. I don't think I've even seen non-USD money in 5-6 years.
- icebraining 12y agoThat was more true fifteen years ago than today. I never see anything besides Euros in my daily life, and I live in a tourist destination!
- patrickk 12y agoEmail sent!
- FredericJ 12y agoAren't Google Zurich employees payed in CHF?
- dola 12y agoThey are.
- furyg3 12y agoThis is incorrect. Nothing changed as they are paid in CHF and spend money in CHF. If they buy products from abroad, their spending power just increased by 15%. It's not good news for Google, etc. as their Swiss employees just got 15% more expensive.
- tonfa 12y agoAlso the biggest change is versus EUR (who was crashing vs USD). CHFUSD wasn't affected as much if you compare with previous years rates. Additionally every large company does currency hedging to protect itself from those events.
- seanmcdirmid 12y agoGoogle must also earn some CHF to offset R&D costs (and maybe a subsidy also from the Swiss gov?).
- jevgeni 12y agoThe point sz4kerto is making, as I understand it, is that the staff cost just jumped for these companies, meaning that some companies might seek to freeze any new hires or even lay off some workers.
- oldspiceman 12y agoGerman groceries just got way cheaper.