UBS reportedly prepares for further job reductions in mid-January

Core Insights - UBS Group is set to initiate a new round of job cuts starting mid-January, coinciding with the integration of Credit Suisse's systems [1][4] - The merger with Credit Suisse has resulted in a workforce increase to nearly 120,000, but staff numbers have since declined by approximately 15,000, with a target of 35,000 reductions [2] - UBS plans to cut 10,000 jobs by 2027, with a significant portion of reductions occurring over several years through early retirement and attrition [2][3] Job Cuts and Workforce Changes - UBS is approaching the final year of integrating Credit Suisse, with job cuts expected to follow the completion of IT migrations [1][4] - The bank has publicly announced intentions to reduce its Swiss workforce by nearly 3,000 roles in the coming years [3] - A spokesperson indicated that many staff cuts will be gradual, with some roles being reassigned [3] Financial Performance - For the third quarter of 2025, UBS reported a net profit attributable to shareholders of $2.4 billion, reflecting a 74% year-on-year increase [5]