According to Reuters on April 21, Switzerland's largest commercial and private bankUBS GroupOn the same day, it was announced that five rounds would be carried out globally from June 2024Layoff。
It may not be clear to everyone about UBS, butSwiss BankI believe everyone has heard that Switzerland's banking industry currently controls 26% of the global cross-border wealth, and still maintains its position as the leader of global wealth management.
UBS's business covers all major financial centers in the world, headquartered in Zurich, Switzerland, and has branches in 50 regions. In 2023, UBS Group completed the acquisition of Credit Suisse.Since then, UBS has more than 120000 employees.
On April 21, UBS Group announced on the same day that it would carry out five rounds of layoffs worldwide from June 2024, which is expected to affect more than 100 jobs in the entire banking sector.The proportion of layoffs in this round is about 20-30%.The main positions affected are investment banking business department and wealth management department.
According to the current number of employees of UBS Group, the number of layoffs may be between 30000 and 35000.Considering market competition and business profitability, the proportion of layoffs in Asia may be larger.
The whole layoff process is expected to start in June and continue to November. This round of layoffs is expected to save UBS CHF 12 billion.About 95 billion yuan.
This move is also considered as a process of UBS Group's market adjustment, which is intended to increase income and reduce expenditure.
