UBS signals fresh layoffs, may cut 10,000 jobs by 2027

UBS may cut a further 10,000 jobs by 2027 as it continues integrating Credit Suisse, Swiss newspaper SonntagsBlick reported, signalling another wave of restructuring at the country’s largest bank.

UBS did not confirm the figure but told Reuters that workforce reductions were ongoing and would be phased over several years. The bank said it aimed to minimise layoffs globally by relying on natural attrition, early retirement, internal mobility and the transition of outsourced roles in-house.

A reduction of that scale would represent roughly 9% of UBS’s global workforce. At the end of 2024, the bank employed around 110,000 people. That number has already fallen sharply since UBS acquired Credit Suisse in an emergency rescue in March 2023.

The combined bank briefly reached a peak headcount of about 119,100 workers in mid-2023. By September 2025, that number had dropped to 104,427 — a net reduction of roughly 15,000 positions, SonntagsBlick reported.

UBS has been shedding around 1,250 roles per quarter on average. According to Reuters, larger rounds of cuts — up to 2,000 jobs at a time — are expected over the next four to five quarters, depending on the speed of integrating Credit Suisse operations and eliminating overlap across business units.

The forced takeover of Credit Suisse, once Switzerland’s second-largest lender, was the biggest banking rescue since the 2008 financial crisis. The merger created a group with nearly $1.7 trillion in assets but also triggered significant uncertainty for staff across both franchises.

Analysts expect UBS to continue consolidating overlapping lines, particularly in support functions and investment banking, as it works to extract the operational synergies promised to investors.

With integration work still far from complete, the bank’s next round of restructuring is likely to set the tone for how the combined entity positions itself in a tougher regulatory and market environment.