UBS Plans to Cut 10,000 More Jobs by 2027 as Part of Integration Strategy

Swiss banking giant UBS is preparing for a significant reduction in its global workforce, with plans to eliminate approximately 10,000 positions by 2027. This development, reported by Swiss media sources citing internal documents, highlights the ongoing structural changes within the bank following its acquisition of Credit Suisse in early 2023.

The projected job cuts are expected to be implemented gradually over several years. UBS aims to minimise the impact on its employees by relying primarily on natural attrition and early retirement programs rather than involuntary layoffs. The bank has underlined its commitment to keeping the number of redundancies in Switzerland and internationally as low as possible during this process.

To support affected staff, UBS has established a comprehensive social plan in collaboration with employee representatives. This framework merges provisions from previous agreements at both UBS and Credit Suisse, ensuring that workers facing redundancy will have access to job placement services and assistance, whether seeking new roles within the bank or externally.

The workforce adjustments are directly linked to the integration of Credit Suisse, which UBS acquired in a landmark deal intended to stabilise Switzerland's financial sector. Since the merger, UBS's total staff has decreased from around 119,000 to just over 104,400 as of the end of September 2025. These reductions reflect ongoing efforts to create a more streamlined and cost-effective organisation amid a highly competitive banking landscape.

Cost management remains a central driver of the restructuring. UBS is under pressure to enhance operational efficiency and improve its cost-income ratio, a key metric in the banking industry. Currently, the bank's cost-income ratio stands at 77 percent, which is higher than some leading competitors. For comparison, major US banks such as Morgan Stanley operate at a ratio of 67 percent, indicating a leaner expense structure and greater efficiency. This performance gap has contributed to the urgency of UBS's cost-cutting measures.

Additionally, the process of fully integrating Credit Suisse into UBS has encountered delays, resulting in higher-than-anticipated costs. The prolonged timeline for merging operations, systems, and personnel has further amplified the need for systematic workforce adjustments to ensure long-term profitability and stability.

UBS has reiterated its commitment to conducting the restructuring process responsibly, engaging with stakeholders and employee representatives to mitigate adverse effects on staff. The bank has emphasised that it will provide support to those affected, including guidance and resources to help secure future employment.

The planned job reductions at UBS reflect the broader challenges facing the global banking sector, where technological advancements, shifting regulatory requirements, and increased competition have compelled institutions to pursue greater efficiency and adaptability. As UBS continues its integration of Credit Suisse, the bank's leadership remains focused on achieving a sustainable cost structure and maintaining its position as a leading player in the international financial services industry.