The Swiss newspaper SonntagsBlick stated on Sunday that UBS might eliminate an extra 10,000 jobs by 2027, although it did not specify where it got the information.
UBS stated it would "keep the number of jobs cuts in Switzerland and globally as low as possible" in response to the article, but it did not confirm this figure.
"The role reductions will take place over the course of several years and will be mostly achieved through natural attrition, early retirement, internal mobility and inhousing of external roles," stated UBS.
Due to the integration of former rival Credit Suisse, which it acquired in 2023, UBS has been laying off employees. The Swiss bank, which employed about 110,000 people by the end of 2024, would lose 9% of its overall workforce if 10,000 jobs were eliminated.
