Global headcount stood at 108,648 at the end of last year, UBS said on Tuesday. That’s down from a peak of 119,100 at the end of June 2023, when UBS first absorbed Credit Suisse after agreeing to buy it in a historic deal earlier that year. UBS Chief Executive Officer Sergio Ermotti reiterated Tuesday that he plans to effectively complete the integration of Credit Suisse by the end of next year. That’s expected to cost a total of about $14 billion.
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UBS beats market expectations with bumper Q4 profit
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The Swiss bank UBS has reported a fourth-quarter net profit that surpasses analysts’ expectations.
UBS made the deepest job cuts in the immediate aftermath of the takeover, with headcount dropping by more than 3,000 in the third quarter of 2023. That pace has slowed since and the workforce declined only by 748 staff in the final three months of last year.
Bloomberg News has reported that several hundred UBS employees in Switzerland received their notice in recent weeks.
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UBS releases ‘hundreds’ of staff in fresh wave of job cuts
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Swiss bank UBS has begun a wave of job cuts in its home market Switzerland, with hundreds of employees receiving notice in recent weeks.
The bank has said it has achieved $7.5 billion of the $13 billion in total savings it’s seeking to extract from the acquisition, with much of the remainder to come from ultimately switching off Credit Suisse’s old IT systems.
Swiss multinational SGS to move HQ from Geneva to Zug
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The Swiss multinational SGS, the world’s leading testing, inspection and certification company, plans to move its headquarters from Geneva to canton Zug in central Switzerland.
Omega-3 supplements seem to slow ageing process, Swiss study finds
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Taking a daily omega-3 supplement appears to slow down the rate of biological ageing by up to four months, according to a study by researchers at the University of Zurich.
Swiss Solidarity charity collected CHF34 million in 2024
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Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), raised CHF34.4 million ($37.7 million) in donations in 2024 and spent CHF63 million on humanitarian projects.
