The UBS bank could cut an additional 10,000 jobs by 2027, the Swiss newspaper SonntagsBlick reported on Sunday, without citing the source of the information.
In response to that report, UBS did not confirm the number, but said it would “keep the number of layoffs in Switzerland and globally as low as possible,” reports Reuters.
“The reduction in the number of jobs will be carried out over several years and will mainly be achieved through natural attrition, early retirement, internal mobility and outsourcing,” UBS said.
UBS is already reducing the number of employees as a result of the integration of former competitor Credit Suisse, which it bought in 2023.
The elimination of 10,000 jobs would mean a reduction of the total number of employees in this Swiss bank by about nine percent, considering that it had about 110,000 workers at the end of 2024.
