08.12.2025 11:00
It has been claimed that the Swiss banking giant UBS will lay off 10,000 employees by 2027. This move represents a reduction of approximately 9% in the bank's total workforce. Meanwhile, UBS has also issued a statement regarding reports published by some media outlets.
The claim that Switzerland's giant bank UBS will part ways with 10,000 employees has caused a significant stir. Following reports in several media outlets, the Swiss-based banking giant issued an official statement.
THEY DIDN'T PROVIDE A NUMBER, BUT...
While UBS did not confirm the specified number, it announced that it aims to keep the number of layoffs to a minimum both in Switzerland and globally. The bank stated that the reduction of positions would be spread over several years and would primarily be achieved through natural attrition, early retirement options, and the insourcing of outsourced positions.
9% DECREASE IN TOTAL EMPLOYMENT
UBS has been taking steps to lay off employees as part of the integration process of its former rival Credit Suisse, which it acquired in 2023. If the alleged wave of layoffs affecting 10,000 people occurs, this figure corresponds to a decrease of approximately 9% in the bank's total employment. As of the end of 2024, UBS had around 110,000 employees worldwide.