UBS' Swiss job cuts to be carried out with good social plan, union says
Published on: Wednesday 30 August 2023
The roughly 3,000 staff affected by job cuts as UBS integrates Credit Suisse in Switzerland will receive good social benefits, Switzerland's banking union said on Thursday. UBS will cut 3,000 jobs in Switzerland in the coming years as it integrates Credit Suisse, with further staff to leave of their own accord, the bank's chief executive Sergio Ermotti told staff in a memo on Thursday. The Swiss Bank Employees Association said it had negotiated intensively with the bank over recent months and saw benefits in UBS' plan to carry out the cuts over several years.
