UBS Continues Job Cuts During Credit Suisse Merger.

UBS has reportedly eliminated several hundred additional jobs across Europe, the Middle East, and Africa as part of its ongoing integration of Credit Suisse. The latest workforce reductions mainly affect support roles, although some client advisory positions have also been impacted, according to media reports.

The Swiss banking giant has not officially confirmed the number of affected employees. However, UBS has consistently stated that it aims to reduce overlapping functions created by the acquisition of Credit Suisse while minimizing compulsory redundancies wherever possible.

A UBS spokesperson reiterated that workforce reductions will occur gradually over several years through natural staff turnover, early retirement programs, internal mobility, and the replacement of external contractors with internal employees. This approach was first outlined after UBS completed the historic takeover of Credit Suisse in 2023.

The bank’s latest financial results show that its workforce declined from 103,177 full-time positions at the end of 2025 to 101,594 by the end of March 2026. Industry analysts estimate that the total workforce could eventually fall to around 80,000 employees as integration efforts continue.

Since acquiring Credit Suisse, UBS is believed to have reduced approximately 17,500 positions globally. In Switzerland alone, the bank previously announced plans for around 3,000 job reductions as part of the merger process.

UBS Chief Executive Officer Sergio Ermotti stated earlier this year that most of the planned Swiss job cuts are expected during the second half of 2026 and early 2027. The reductions are closely linked to the completion of the migration of former Credit Suisse clients and operations onto UBS systems.

Despite the ongoing restructuring, UBS maintains that the integration remains on track and is focused on creating a stronger and more efficient global banking group. The merger continues to be one of the largest banking consolidations in Swiss financial history, with significant implications for employment and the future of the country’s banking sector.

Swiss Finance Minister Urges Banks to Strengthen Financial Stability.

Swiss Finance Minister Karin Keller-Sutter has called on banks operating in Switzerland to actively contribute to the country’s financial stability amid ongoing global geopolitical tensions and economic uncertainty.

Speaking at a private banking symposium in Bern organised by the Swiss Association of Private Banks and the Association of Swiss Asset Management and Institutional Banks, she stressed that Switzerland’s stability remains one of its most valuable economic assets.

She warned that institutions benefiting from this stability must also take responsibility in maintaining it. According to her remarks, any actions that could weaken the financial system in the future must be carefully managed to protect the wider economy and taxpayers.

The comments come amid ongoing discussions involving UBS Group AG, which has recently expressed concerns about proposed government plans to tighten capital requirements for systemically important banks.

Keller-Sutter acknowledged the importance of large banking institutions to Switzerland’s economy but emphasized the need to limit risks that could ultimately fall on taxpayers. She rejected the idea that the government is obstructing business growth, instead framing regulation as a safeguard for long-term stability.

She also highlighted that Switzerland continues to attract international clients seeking secure financial environments, particularly during periods of global instability. The country’s reputation for safety and trust remains a key driver of its financial sector strength.

Referring to past financial challenges, including the collapse of Credit Suisse, she reminded industry leaders that stability is essential to maintaining confidence in the banking system.

Experts note that Switzerland’s financial sector continues to play a central role in global wealth management, but regulatory debates remain crucial as authorities seek to balance competitiveness with systemic risk protection.