UBS Group AG Plans to Cut 10,000 More Jobs by 2027

Deep News12-08 07:10

UBS Group AG may cut an additional 10,000 jobs by 2027, according to a report, though the source was not disclosed.

In response, UBS did not confirm the exact figure but stated it aims to "keep job reductions in Switzerland and globally as low as possible."

The bank explained that the layoffs will be implemented over several years, primarily through natural attrition, early retirements, internal transfers, and internalizing external positions.

UBS has been reducing headcount following its integration of former rival Credit Suisse, which it acquired in 2023.

A reduction of 10,000 jobs would represent about 9% of UBS's total workforce, which stood at approximately 110,000 employees by the end of 2024.

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