Global headcount stood at 108,648 at the end of last year, UBS said on Tuesday. That’s down from a peak of 119,100 at the end of June 2023, when UBS first absorbed Credit Suisse after agreeing to buy it in a historic deal earlier that year. UBS Chief Executive Officer Sergio Ermotti reiterated Tuesday that he plans to effectively complete the integration of Credit Suisse by the end of next year. That’s expected to cost a total of about $14 billion.
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UBS beats market expectations with bumper Q4 profit
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The Swiss bank UBS has reported a fourth-quarter net profit that surpasses analysts’ expectations.
UBS made the deepest job cuts in the immediate aftermath of the takeover, with headcount dropping by more than 3,000 in the third quarter of 2023. That pace has slowed since and the workforce declined only by 748 staff in the final three months of last year.
Bloomberg News has reported that several hundred UBS employees in Switzerland received their notice in recent weeks.
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UBS releases ‘hundreds’ of staff in fresh wave of job cuts
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Swiss bank UBS has begun a wave of job cuts in its home market Switzerland, with hundreds of employees receiving notice in recent weeks.
The bank has said it has achieved $7.5 billion of the $13 billion in total savings it’s seeking to extract from the acquisition, with much of the remainder to come from ultimately switching off Credit Suisse’s old IT systems.
As a Swiss Abroad, how do you feel about the emergence of more conservative family policies in some US states?
In recent years several US states have adopted more conservative policies on family issues, abortion and education. As a Swiss citizen living there, how do you view this development?
The image of foreigners in Switzerland has deteriorated
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The Federal Statistical Office has found that Swiss people’s views of foreigners have worsened over the last couple of years.
After mild winter, nature wakes up earlier in Switzerland
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Once again this year, nature has woken up earlier than normal, between a week and ten days ahead of schedule due to a mild winter.
Computer failure disrupts air traffic at Geneva airport
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A computer breakdown has disrupted operations at Geneva Airport since midday on Tuesday. Significant delays are expected.
Swiss show high willingness to pay for sustainable flats
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Tenants in Switzerland are in favour of sustainable flats. However, the willingness to pay differs by income according to a new study.
Swiss customs intercepted over 200 tonnes of smuggled meat in 2024
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The Federal Office for Customs and Border Security intercepted around 208 tonnes of smuggled meat at border crossings in 2024.
Switzerland faces infrastructure gaps for CO2 capture
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Switzerland must actively remove CO2 from the air in order to become climate-neutral by 2050. However, the infrastructure for this isn't sufficient.
Swiss parliament prohibits sale of Swiss space company Beyond Gravity
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The Swiss parliament has said that the Swiss government should not sell the Swiss space company Beyond Gravity, which is part of RUAG.
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