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This 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
by furyg3 12y ago
This 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?).