UBS could cut 10,000 additional jobs by 2027, the Swiss newspaper SonntagsBlick reported on Sunday, without citing where it obtained the information.
In response to this information, UBS did not confirm this figure, but stated that it would “keep the number of layoffs in Switzerland and worldwide as low as possible.”
“The position reductions will be spread over several years and will be achieved primarily through natural attrition, early retirement, internal mobility and reassignment of external roles,” UBS said.
UBS has cut jobs following the integration of its competitor Credit Suisse, acquired in 2023.
A reduction of 10,000 jobs would be equivalent to a 9% reduction in total employment at the Swiss bank, which had around 110,000 employees at the end of 2024.
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