Aaj English TV

Sunday, April 21, 2024  
09 Shawwal 1445  

Switzerland bank pays Zurich workers double in $200m glitch

City workers demand a repeat of the ‘inflation compensation’
Photo - Reuters/File
Photo - Reuters/File

City employees were in for a surprise after a bank in Zurich of Switzerland paid them double payment of monthly salaries due to a technical glitch, Bloomberg reported.

While the local officials have apologised to city employees for the incident, they are now trying to claw back the payment which is to the tune of around 175 million francs ($200 million).

The surprising amount prompted of employees to call the city’s offices asking about the extra money while others sarcastically described it as “inflation compensation” and demanded a repeat.

The payments were sent in error on February 26 on the payday for February, according to a statement.

It is pertinent to mention that the workers cannot keep the money as the officials were trying to come up with a solution for the 30,000 employees to easily return the amount.

The state-owned Zuercher Kantonalbank handling the city’s salary transfers has been blamed for the error.

The bank acknowledged that faulty software from one of Swisscom AG’s contractors caused the glitch.

“Swisscom is aware of the seriousness of this incident and apologizes for the inconvenience caused,” the telecommunications company said in a statement shared by the bank.

For the latest news, follow us on Twitter @Aaj_Urdu. We are also on Facebook, Instagram and YouTube.

switzerland

bank

Comments are closed on this story.

Comments

Taboola

Taboola ads will show in this div