New Delhi, Dec. 7 -- UBS may eliminate 10,000 jobs by 2027 as part of its ongoing integration of Credit Suisse, Swiss paper SonntagsBlick reported on Sunday. The report stated that the layoffs will target employees in Switzerland and abroad. Responding to the claims, UBS did not confirm the figure but said that it would "keep the number of jobs cuts in Switzerland and globally as low as possible."

A reduction of 10,000 positions would amount to a roughly 9 per cent cut in Swiss bank's workforce, which stood at around 110,000 employees at the end of 2024.

UBS, one of the leading global wealth management firm, has been reducing job roles as a cost-cutting measure following the integration of former rival Credit Suisse, which it bought in ...