UBS: new wave of redundancies in mid-January, according to Bloomberg
Keystone-SDA
Swiss bank UBS is preparing to start the next wave of layoffs in mid-January, Bloomberg claims based on sources inside the bank.
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According to the agency, another termination phase is planned for mid-2026, when the IT systems taken over as part of the acquisition of Credit Suisse will be decommissioned.
UBS is entering the final year of the Credit Suisse integration. Following the merger, the workforce had grown to almost 120,000 employees. Since then, according to Bloomberg‘s sources, the workforce has been reduced by about 15,000 positions.
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Contacted by the news agency Awp, the institution did not wish to comment on the news. It did, however, refer to earlier statements that the company is seeking to minimise job cuts in Switzerland and worldwide as a result of the integration.
The reduction in the workforce will extend over several years, the company emphasised: it will be achieved primarily through natural fluctuation, early retirements, internal mobility and the internalisation of external roles.
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UBS set to miss job cutting target after Credit Suisse takeover
Translated from Italian by DeepL/mga
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