Friday, October 2, 2020

Geneva to introduce world's highest minimum wage of N2.1million per month

Geneva is set to introduce 'the world's highest minimum wage' which will equate to £3,500 (N2,100,000) a month and £41,430 (N24,858,000) a year. 

The Swiss city, which has a voter population of around 500,000, held a referendum with two-thirds backing the new measure.  

The alterations, which had been rejected by voters twice before in both 2011 and 2014, will now come into effect from October 17. 

Geneva is the world's second most expensive city, according to a cost-of-living index compiled by Expatistan. But it was hit particularly hard by the outbreak of Covid-19 due to its reliance on revenue from tourists and business visitors.  

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