SBB welcomes no vote for executive pay cap


    Swiss Federal Railways (SBB) says it is “pleased” voters have rejected proposals to put strict controls over the profits of state-owned companies and cap the pay of senior managers.

    As well as limiting the salaries of employees to that of federal administration officials, the ‘Pro Public Service’ initiative set out several other measures, including requiring profits made by these companies to be directly re-invested into services.

    The Federal Council and Parliament had both recommended against the initiative ahead of the referendum on June 5.

    SBB said the vote was “a commitment of the Swiss electorate to a strong public service and to sustainable and innovative companies”.

    The company added: “SBB is committed to further improve their performance and to provide customers with safe, reliable public transportation at fair prices.”



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