Swiss Bank giant UBS may cut an additional 10,000 jobs globally by 2027, according to reports by Swiss Newspaper SonntagsBlick.
The potential layoffs come as part of UBS’s long-term integration plan following its acquisition of rival Credit Suisse in 2023. While UBS has not officially confirmed the number, the bank said it aims to keep it as low as possible.
By the end of 2024, UBS employed about 1,10,000 people. A reduction of 10,000 would represent roughly 9% of the total workforce.
The UBS workforce rose to around 1,19,100 in mid-2023 and fell to 104,427 by September 2025, a decrease of nearly 15,000 jobs. This latest proposed round of cuts would bring total reductions to roughly 25,000 roles since the acquisition.
As per the reports, the upcoming cuts will be executed gradually over several years. The plan reduction will rely mostly on natural attrition, early retirement, internal mobility, and insourcing roles previously held by external contractors.
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Analysts say this ‘Phase two’ of restructuring marks deeper consolidation, no longer elimination of just overlapping roles, but also streamlines core operations within UBS itself to enhance long-term efficiency.
