(AFP / Fabrice Coffrini)
UBS will reduce its workforce in France in the context of the integration of Credit Suisse, its ex-rival bought under pressure from the Swiss authorities, the banking giant specifying that “less than 50 positions” will be deleted.
Less than 50 positions will be deleted “through a job safeguard plan”, with “support measures for affected employees,” the Swiss bank told AFP, confirming information from the Bloomberg agency.
France remains, however, “a strategic growth market for UBS in Europe”, underlined the active group, particularly in wealth management and the investment bank.
In March 2023, UBS agreed with the Swiss authorities to buy his ex-writer Credit Suisse, on the verge of bankruptcy.
Credit Suisse was then the second bank in Switzerland by size, this acquisition opening a huge project to clean up in its activities, several of which were shaken by repeated scandals.
Last year, UBS finalized several legal stages of this extraordinary merger, opening up a new phase of integration, in particular with the migration of Credit Suisse customers’ accounts to UBS systems and the consolidation of banking agencies in Switzerland.
-At the time of rescue of Credit Suisse in March 2023, the workforce of the two banks rose, together, around 120,000 people.
Among the first measures announced in 2023 in the months following the repurchase of Credit Suisse, UBS had said they plan to delete 3,000 positions in Switzerland.
The banking group does not disclose its workforce by country, but globally it had 108,648 people in full time at the end of 2024, according to its annual report.
Since then, its workforce has further decreased to quantify at 106,789 at the end of the first quarter of 2025.
The bank is also reducing its workforce in other countries. At the beginning of April, the Bloomberg agency reported that the bank had informed the unions in Italy of a reduction project of 180 positions.
In March, the bank was sentenced in France to a fine of 75,000 euros for moral harassment of two whistleblowers who had denounced a tax evasion system organized by the establishment.
