UBS is cutting hundreds more jobs as it grinds through one of the most ambitious bank mergers in recent memory. The latest round of reductions is part of a restructuring effort that has already eliminated an estimated 15,000 positions since UBS acquired Credit Suisse in a government-brokered rescue deal back in March 2023.
And the bank isn’t done. Up to 10,000 additional job cuts are planned globally by 2027, targeting roughly 9% of UBS’s projected workforce of approximately 110,000.
The integration machine keeps running
UBS carried roughly 120,000 employees in mid-2023, right after the acquisition closed. That figure has since dropped to an estimated 104,000 to 110,000 expected by late 2025. Recent quarterly cuts have included around 322 positions in Q3 2025 alone.
CEO Sergio Ermotti signaled in January 2026 that a fresh wave of reductions would begin after the bank finishes decommissioning legacy IT systems inherited from Credit Suisse.
