UBS has been cutting jobs as a result of the integration of former rival Credit Suisse, which it bought in 2023.
A reduction of 10,000 jobs would equate to a 9% cut in total jobs for the Swiss bank, which had around 110,000 employees at the end of 2024.
https://www.reuters.com/business/world-at-work/ubs-may-cut-further-10000-jobs-by-2027-sonntagsblick-reports-2025-12-07/
UBS is reportedly planning another large round of layoffs as it continues to absorb Credit Suisse. A Swiss media report says the bank may cut about 10,000 jobs by 2027, which would be roughly a 9 percent reduction from its workforce of around 110,000 at the end of 2024. UBS has not confirmed the exact figure but says it wants to keep cuts in Switzerland and globally as low as possible.
Since the merger, the combined workforce has dropped from about 119,100 in mid 2023 to around 104,400 by late 2025, a decrease of roughly 15,000 jobs. UBS has been cutting about 1,250 roles each quarter and may trim up to 2,000 more per quarter over the next year depending on how smoothly the integration goes.
The 2023 takeover created a banking giant with nearly 1.7 trillion dollars in assets, but it also ended Credit Suisse’s long history and left staff facing signifcant uncertainty as UBS continues to restructrue. Many emploees still do not know how the next phases of the overhaul will affect them.