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Market Chatter: UBS Cuts Several Hundred Jobs Across EMEA Amid Ongoing Integration

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UBS (UBS) cut several hundred jobs across its Europe, Middle East and Africa operations in its latest round of reductions linked to the 2023 Credit Suisse takeover, Bloomberg reported Friday, citing people familiar with the matter.

The cuts mainly affected support roles, with some client-facing bankers also impacted, the report said, adding that some employees were offered internal redeployment as UBS works to limit redundancies.

UBS toldthat it aims to keep job cuts from the Credit Suisse integration as low as possible, with reductions phased over several years and largely achieved through natural attrition, early retirement, internal mobility, and bringing outsourced roles in-house. It is also focusing on internalizing third-party roles to reduce the overall impact.

UBS added that it provides support to affected employees by helping them find roles internally or externally and prioritizes internal hiring, with more than two-thirds of open positions filled internally in 2025.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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