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UBS Swiss job cuts coming later in 2026, CEO says

Published by Global Banking & Finance Review

Posted on February 4, 2026

1 min read

· Last updated: February 4, 2026

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UBS Swiss job cuts coming later in 2026, CEO says
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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

UBS Swiss job cuts coming later in 2026, CEO

UBS Job Cuts Overview

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.

CEO's Insights on Job Reductions

UBS has previously said it expected to lose around 3,000 jobs in Switzerland as it integrates Credit Suisse.

Impact of Credit Suisse Integration

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)

Key Takeaways

  • UBS plans to cut jobs in Switzerland by 2026.
  • CEO Ermotti confirms 3,000 job reductions.
  • Job cuts linked to Credit Suisse integration.
  • Capital repatriation doesn't affect overall capital.
  • Swiss government proposals may increase capital requirements.

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