USB (USBG SW) CEO says they will commence a new round of job cuts shortly, the figure in Switzerland is expected to be below 3k, Bloomberg reports

Newsquawk Staff · 13 Jan 2026, 12:00 UTC

USB (USBG SW) CEO says they will commence a new round of job cuts shortly, the figure in Switzerland is expected to be below 3k, Bloomberg reports.

What it means

The news of USB's planned job cuts, specifically less than 3,000 positions in Switzerland, suggests a strategic move to enhance efficiency or cut costs amidst challenging market conditions. This could signal the bank's response to either a slowdown in business or a need to optimize operations, potentially affecting its competitive positioning and investor sentiment towards the sector.

Sources

bloomberg.com

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