UBS CEO Signals Swiss Job Cuts Likely in Late 2026
UBS CEO says Swiss job cuts are expected later in 2026, as the banking giant continues to integrate its operations following the takeover of Credit Suisse.
Speaking to reporters on Wednesday, Sergio Ermotti, the chief executive of UBS, said that most of the planned job reductions in Switzerland are expected to take place during the second half of 2026. The comments come as the bank moves deeper into its post-merger restructuring phase.
UBS has already indicated that roughly 3,000 roles in Switzerland could be eliminated as part of the integration of Credit Suisse, a process aimed at streamlining overlapping functions and improving efficiency.
Following the release of the lender’s fourth-quarter results, Ermotti also addressed questions around capital strength. He explained that the faster-than-expected repatriation of capital from UBS subsidiaries back to the parent company does not alter the bank’s overall capital position. According to the CEO, UBS remains well-prepared as it braces for potentially higher capital requirements under proposals currently being discussed by the Swiss government.
Overall, the bank’s leadership continues to emphasize stability and long-term planning, even as significant structural changes — including workforce reductions — loom on the horizon.
