CEOs make their case against 1:12 Initiative
Nestle, Novartis, Bobst, and SBB asked employees to vote no to 1:12
Novartis, Nestle, Bobst, and SBB have written to their employees asking them to vote no to the 1:12 initiative that would even out wages within a company.
The companies sent their thousands of employees letters explaining that Switzerland has an economic draw for companies, but the passing of the 1:12 socialist initiative would make the location desirable.
The law would ban company executives from earning more than 12 times that of their lowest paid employee. CEO of Novartis earns 15.7M annually, which the campaign cites as a rate of 1 to 266.
Recent polls showed that the yes and no votes for the initiative were nearly tied.