Swiss banking giant UBS Group has reportedly eliminated several hundred jobs across its Europe, Middle East and Africa (EMEA) operations, according to Bloomberg News.
The layoffs are the latest in a series of workforce reductions linked to UBS’s ongoing integration of rival lender Credit Suisse, which was acquired three years ago in a landmark banking sector rescue deal.
According to the report, the job cuts mainly affected support functions, although some client-facing banking staff were also impacted. The restructuring is part of UBS’s broader effort to streamline operations and eliminate duplication following the acquisition.
UBS has previously indicated that it expects to cut around 3,000 jobs in Switzerland alone as it consolidates systems, teams and business lines inherited from Credit Suisse.
The integration of Credit Suisse has been one of the largest post-crisis restructuring exercises in European banking history, forcing UBS to balance cost savings with the need to maintain stability across its global operations.
More Read
The latest round of layoffs highlights ongoing pressure on large international banks to reduce costs amid tighter financial conditions, higher regulatory requirements and slower deal activity in key markets.
While UBS has not publicly confirmed the latest figures, earlier restructuring announcements have consistently pointed to a gradual reduction in headcount as integration milestones are reached.
Analysts say further efficiency-driven job cuts could continue into 2027 as UBS completes the final phases of merging systems and aligning its global workforce.
More Read
The bank has maintained that the acquisition of Credit Suisse will ultimately strengthen its global position, but has acknowledged that the integration process will involve significant restructuring costs and workforce adjustments.
