01.02.2015

Short-time work compensation for Euro-fall

The sharp fall of the euro is accepted as reason for benefits from the unemployment insurance.


The export industry will face a drop in orders after the abolition of the minimum rate for the EUR. The Federal Council has decided to accept foreign currency fluctuations as a reason for paying short-time work compensation.

This will result in a surplus load for the unemployment insurance fund. The administrative expenses for the unwinding of short-time work is significant, but ideally prevents layoffs.

The unemployment insurance pays 80% for lost hours, the missing 20% have to be absorbed by the employee. Look out: Not every employee is eligible for short-time work compensation and social insurance must be settled from the full normal salary!

We from Reiko are looking forward to taking care of the process for our customers - from the application to the correct settlement.

Source: www.admin.ch