UBS May Cut Up to 10,000 More Jobs by 2027 Amid Credit Suisse Integration

UBS could reduce its workforce by as many as 10,000 additional roles by 2027, according to a report by SonntagsBlick cited by Reuters. If implemented, the cuts would affect nearly nine per cent of the bank’s global workforce, which stood at about 110,000 employees at the end of 2024.
While UBS has not confirmed a specific number, it has acknowledged that further job reductions are part of its long-term strategy following the acquisition of Credit Suisse in 2023. Responding to the report, the bank said workforce reductions would be carried out gradually and kept “as low as possible.”
UBS indicated that most reductions would be achieved through less disruptive measures such as natural attrition, early retirement, internal redeployment and bringing outsourced activities back in-house. Despite this approach, several thousand roles could be phased out over the next two years as restructuring continues.
The potential job cuts are linked to the ongoing integration of Credit Suisse, whose emergency takeover was aimed at preventing broader financial instability. The merger resulted in overlapping roles across functions including wealth management, investment banking, risk, compliance and support services, prompting the need for consolidation and cost efficiencies.
The developments reflect broader challenges facing the global banking sector, including subdued deal activity, rising operating costs, increased automation and pressure to deliver efficiencies following large-scale mergers. For banking professionals, particularly in Europe and major financial centres, the situation highlights continued uncertainty even at leading global institutions.
UBS continues to balance cost reduction with operational stability, employee engagement and client service as the integration progresses. The full impact of the Credit Suisse merger is expected to influence both the bank’s structure and the wider Swiss financial sector over the coming years.
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