Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Perspectives
      • Friday Features
      • herSTORY
      • Case-In-Point
      • Point Of View
      • Research
      • HR Pops
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • Rising Star
      • By Invitation
    • News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • HR Forecast 2026
      • Cover Story
      • Editorial
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Magazine
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Conferences
      • Leadership Summit 2025
      • Rising Star Leadership Awards
      • HRKatha Futurecast
      • Automation.NXT
      • The Great HR Debate
    • HR Jobs
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    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 Read9405 Views
    Share LinkedIn Twitter Facebook WhatsApp
    Share
    LinkedIn Twitter Facebook WhatsApp

    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.

    zoha

    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.

    zoha
    salaries Zurich
    Share. LinkedIn Twitter Facebook WhatsApp
    HRK News Bureau

    Leave A Reply Cancel Reply

    Related Posts

    Tata Motors Passenger Vehicles approve stock incentive plan for employees

    May 15, 2026

    Delhi HC: Piece-rate workers can qualify as employees

    May 15, 2026

    IndusInd Bank expands hybrid work model for select roles across India

    May 15, 2026

    K Raheja Corp to foster cross-generational learning with ‘Reverse Mentoring’ programme

    May 15, 2026
    Editorial

    Why great ‘Number Twos’ rarely become ‘Number One’

    The pattern is familiar enough that it no longer surprises. A senior leader exits. The…

    The problem isn’t HR. It’s how managers are measured

    The image circulated widely: a professional working from a parked car, laptop balanced precariously, joining…

    EDITOR'S PICKS

    The career moves that didn’t look impressive, until they did

    May 15, 2026

    herSTORY: Divya Mohan, CHRO, InsuranceDekho

    May 14, 2026

    Case-in-Point: Promotion leak vs process integrity

    May 14, 2026

    HR Perspectives by Padma Gupta: “Inclusion strengthens meritocracy rather than weakening it”

    May 13, 2026
    Latest Post

    Tata Motors Passenger Vehicles approve stock incentive plan for employees

    News May 15, 2026

    Tata Motors Passenger Vehicles has approved a new long-term stock-based incentive programme aimed at rewarding…

    Delhi HC: Piece-rate workers can qualify as employees

    News May 15, 2026

    The Delhi High Court has ruled that workers paid on a piece-rate basis can still…

    IndusInd Bank expands hybrid work model for select roles across India

    News May 15, 2026

    IndusInd Bank is preparing to expand a hybrid work model for selected employees across India,…

    K Raheja Corp to foster cross-generational learning with ‘Reverse Mentoring’ programme

    News May 15, 2026

    K Raheja Corp has introduced a new learning and leadership initiative called “Reverse Mentoring,” aimed…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2026 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.