UBS to Cut 3,000 Swiss Jobs, Hire in India
•February 12, 2026
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Why It Matters
By shifting jobs to India, UBS seeks to lower operating costs while modernizing its technology platform, a move that could reshape banking talent geography and trigger regulatory scrutiny in Switzerland.
Key Takeaways
- •UBS cuts 3,000 Swiss jobs amid Credit Suisse integration
- •Same number of roles added in Hyderabad, India
- •Focus on technology, engineering, AI capabilities
- •Strategy reduces costs, leverages India's talent pool
- •Swiss regulators worry about losing critical functions locally
Pulse Analysis
The integration of Credit Suisse has forced UBS to confront significant overlap in support, IT and management functions. Across Europe, banks are wrestling with the cost pressures of legacy systems and the need to accelerate digital transformation. UBS’s decision to eliminate roughly 3,000 Swiss positions mirrors a broader industry trend of consolidating operations to achieve scale and improve profitability after a tumultuous merger year.
India’s Hyderabad is emerging as a strategic hub for financial‑services technology, offering a deep pool of engineers, data scientists and AI specialists at a fraction of European labor costs. By doubling its headcount there, UBS aims to build a tech‑centric operating model that can support faster product development, automated risk management and next‑generation client experiences. The move also leverages India’s faster hiring cycles, allowing the bank to staff critical projects more nimbly than in the traditionally slower Swiss market.
However, the shift raises regulatory and political concerns in Switzerland, where authorities insist on retaining core capabilities domestically. The loss of 3,000 jobs could spark public backlash and pressure on UBS to safeguard essential functions locally. For the global banking sector, UBS’s plan underscores the delicate balance between cost efficiency, technological advancement and sovereign expectations, signaling that future workforce strategies will likely blend offshore talent with stringent compliance oversight.
UBS to cut 3,000 Swiss jobs, hire in India
UBS is planning a major workforce reshuffle as it continues to absorb Credit Suisse following its government-backed rescue in 2023. The Swiss bank reportedly expects to cut about 3,000 jobs in Switzerland later this year, while hiring a similar number of roles in India.
The new jobs will be concentrated in Hyderabad, where UBS is expanding its presence. The bank aims to double headcount in the city over the coming months, focusing on technology, engineering and artificial intelligence (AI). This expansion is part of a broader strategy to build cost-efficient, tech-heavy capacity in India, which offers deep talent pools and faster hiring compared to Switzerland.
The Swiss job cuts are taking place due to the overlap created by the merger. Duplicate teams in support functions, IT, and management are being consolidated. UBS has indicated that attrition and early retirements will be used wherever possible, but the bank is clearly streamlining operations to reduce costs while modernising systems.
The move highlights a growing trend among global banks to place technology and operations teams in lower-cost markets such as India. While this boosts competitiveness, it also raises concerns in Switzerland, where regulators want critical capabilities retained locally. The issue is particularly sensitive now that UBS stands as the country’s only major banking group.
By hiring 3,000 roles in India while cutting the same number in Switzerland, UBS is trying to balance workforce efficiency with global reach, underscoring India’s rising importance in the financial-services sector.
The post UBS to cut 3,000 Swiss jobs, hire in India appeared first on HR Katha.
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