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    Home»Global HR News»Technical glitch causes $200 million windfall in Zurich
    Global HR News

    Technical glitch causes $200 million windfall in Zurich

    HRK News BureauBy HRK News BureauFebruary 29, 20242 Mins Read8571 Views
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    The city of Zurich is attempting to recover approximately 175 million Swiss Francs, equivalent to about $200 million, following a technical glitch that resulted in all city employees receiving double pay for February, as per local reports.

    The authorities issued an apology to municipal employees following a technical malfunction that resulted in the inadvertent double payment of February salaries. According to The Local Switzerland, the unexpected windfall appeared in employees’ accounts on Monday, 26 February.

    The authorities clarified that the error was caused by faulty software from a contractor of Swisscom AG, a telecommunications company that processes transactions for the bank.

    Following the error, the city administration received a flood of calls from confused employees, with some humorously suggesting that the extra money may have been granted to cope with inflation.

    Swisscom expressed regret for the incident and acknowledged the severity of the situation. Now, the city is grappling with the administrative challenge of reclaiming the funds.

    Efforts are on to recover the excess funds from the 30,000 affected employees, with officials striving to establish a straightforward process for the return.

    In response to the unexpected windfall, numerous employees contacted city offices seeking clarification, while some humorously referred to it as “inflation compensation” on the city’s intranet and jokingly called for a repetition of the same.

    All 30,000 employees will receive a letter containing a QR code linking to instructions for returning the money, with the bank covering the associated administration costs, as reported by NZZ. A spokesperson for the city’s finance department, noted the complexity of handling 30,000 cases, including bonuses, intricate shift arrangements, and cases involving individuals who have since passed away.

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