A preliminary investigation into whether dozens of banks inappropriately shared information regarding employee pay has been launched by the Swiss Competition Commission (Comco).
“In the German-speaking region of Switzerland, a considerable number of banks frequently communicate information regarding the salaries of specific staff types. A preliminary investigation has been started because this behavior may be problematic under the Cartel Act, it said on Monday (Dec 5).
34 banks in six regions of German-speaking Switzerland were the focus of the investigation. It further stated that it might be expanded to other corporate entities and geographical areas.
The labor market is becoming more crucial for competition authorities around the world.
The Comco secretariat is investigating, labor market agreements that might be subject to the Cartel Act for the first time. It stated that because these agreements, “are not the outcome of conversations between social partners,” they may be subject to antitrust legislation.
