Finance
UBS Swiss Job Cuts Coming Later in 2026, CEO Says
Published by Global Banking & Finance Review®
Posted on February 4, 2026
1 min readLast updated: February 4, 2026
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Company
Published by Global Banking & Finance Review®
Posted on February 4, 2026
1 min readLast updated: February 4, 2026
Add as preferred source on GoogleUBS will implement major job cuts in Switzerland by 2026 as part of its Credit Suisse integration, according to CEO Sergio Ermotti.
ZURICH, Feb 4 (Reuters) - The majority of job reductions in UBS' Swiss business will likely be in the second half of 2026, the bank's CEO Sergio Ermotti told reporters on Wednesday.
UBS has previously said it expected to lose around 3,000 jobs in Switzerland as it integrates Credit Suisse.
Speaking after the lender's fourth-quarter results, Ermotti also said that the faster-than-anticipated repatriation of capital from UBS subsidiaries to the parent did not change the overall capital available for the bank, as it prepares for higher capital requirements under Swiss government proposals.
(Reporting by Ariane Luthi and Tommy Reggiori Wilkes, Editing by Louise Heavens)
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