Massive cuts: Well-known major bank wants to cut 10,000 jobs

The Major Swiss bank UBS According to a media report, is planning another one massive job cuts. By 2027, around 10,000 jobs disappear, like the Swiss newspaper Sunday View reported on Sunday, citing internal information. The bank confirmed this figure upon request Reuters not. However, she said she wanted to keep the number of job cuts in Switzerland and worldwide “as low as possible”.

The reduction will take place over several years and should largely be achieved through natural fluctuation and early retirement regulations. The bank also referred to a comprehensive social plan that had been agreed with employee representatives. This combines the regulations of the previous plans from UBS and Credit Suisse. Affected employees would be supported in finding a new job within or outside the bank.

The background to the job cuts is the takeover of rival Credit Suisse in spring 2023. Since the merger, the number of employees has already fallen from around 119,000 to 104,427 at the end of September 2025. The bank is under pressure to reduce its costs. The cost-income ratio, which measures efficiency, is 77 percent. Comparable institutions such as the US bank Morgan Stanley work significantly more efficiently at 67 percent. In addition, according to the report, the integration of Credit Suisse is several months behind schedule, which is causing additional costs.