Inspectors probe Goldman office allegedly over working hours

Hard At Work

Putting in the hours ?

Goldman Sachs' offices in Zurich were visited by regional labor department inspectors Wednesday over a complaint about overtime hours.

'There was a complaint from the bank employees union and we’re obligated to investigate complaints', Irene Tschopp, a spokeswoman for Zurich canton’s labor department, said by phone today, confirming an earlier report in Swiss newspaper Tages-Anzeiger. She declined to disclose the contents of the complaint or the inspectors’ findings, citing data protection rules.

Bloomberg News reports that the firm allegedly failed to record employees’ working hours or compensate for overtime in violation of Swiss law, Tages-Anzeiger reported, without saying where it got the information.

The inspection came as unions and employers disagree over proposed changes to labor laws that would exempt companies from controlling overtime work of employees above a certain pay level, the newspaper said.

Swiss labor law limits working hours for people employed in industrial plants, offices, large shops and in technical professions to a maximum of 45 hours per week.

Hit the link below to access the complete Bloomberg article:

Goldman Sachs Office in Zurich Examined by Labor Inspectors

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