UBS Plans Swiss Job Cuts While Expanding Technology Hiring in India

UBS is preparing for a significant workforce reorganisation as it continues integrating Credit Suisse following the government-backed rescue completed in 2023. The bank is expected to reduce around 3,000 roles in Switzerland later this year while creating a similar number of new positions in India, signalling a strategic shift in how the combined organisation distributes talent and technology functions globally.

Much of the planned hiring will be centred in Hyderabad, where UBS is rapidly expanding its operational footprint. The bank intends to substantially increase headcount in the city over the coming months, with recruitment focused on technology development, engineering, and artificial intelligence capabilities. This move reflects a broader effort to build scalable, cost-efficient digital infrastructure in markets that offer deep technical talent pools and faster recruitment cycles compared with traditional European banking centres.

The anticipated job reductions in Switzerland are largely tied to organisational overlap created by the merger. Duplicate teams across support services, information technology, and management functions are being consolidated as UBS works to streamline operations and remove redundancies. The bank has indicated it will prioritise natural attrition and early-retirement options where feasible, though structural reductions remain a central part of post-merger integration and cost-control planning.

This workforce rebalancing illustrates a wider transformation underway in global banking. Financial institutions are increasingly relocating technology and operations roles to lower-cost regions while retaining core regulatory, risk, and client-facing functions in home markets. For UBS, expanding in India offers not only cost advantages but also access to specialised expertise in software engineering, data science, cybersecurity, and AI—capabilities that are becoming critical as banks modernise legacy systems and expand digital services.

At the same time, the restructuring carries domestic sensitivity within Switzerland. Since the emergency takeover of Credit Suisse, UBS has effectively become the country’s only remaining global-scale banking group. Regulators and policymakers have therefore emphasised the importance of maintaining essential capabilities, employment stability, and systemic resilience within the Swiss financial system. Workforce reductions, even when linked to merger efficiencies, are closely scrutinised in this context.

From a strategic perspective, UBS appears to be balancing two parallel priorities: preserving stability in its home market while accelerating technological transformation through global talent distribution. Expanding engineering and AI capacity in India supports long-term competitiveness, particularly as automation, digital platforms, and data-driven services reshape banking operations worldwide. Meanwhile, consolidating overlapping roles in Switzerland addresses immediate efficiency pressures following the merger.

Industry analysts note that similar geographic workforce shifts are becoming common across multinational financial institutions. As regulatory demands, cost pressures, and rapid technological change converge, banks are redesigning operating models to separate high-value innovation work from traditional administrative structures. India’s established role in global financial-services technology—supported by mature service ecosystems and a large skilled workforce—positions it as a key destination for this transition.

For employees, the changes reflect both opportunity and uncertainty. Job reductions in Switzerland highlight the human impact of consolidation, while hiring growth in India underscores expanding career pathways in technology-driven financial services. For UBS, successful integration of Credit Suisse will depend not only on cost savings but also on its ability to modernise systems, retain critical expertise, and manage regulatory expectations.

Ultimately, the planned shift of roughly 3,000 roles from Switzerland to India marks another milestone in UBS’s post-merger restructuring. It also reinforces a broader global trend: as banking becomes increasingly digital and technology-centric, workforce strategies are evolving toward distributed talent models that prioritise efficiency, scalability, and innovation across international locations.