UBS plans to hire 3,000 new roles in India as it axes jobs in Switzerland

Group 1 - UBS plans to hire up to 3,000 new roles in India, coinciding with the expected loss of 3,000 jobs in Switzerland due to the integration with Credit Suisse [1][1][1] - The job cuts in Switzerland are anticipated to occur primarily through natural attrition or early retirements, as stated by CEO Sergio Ermotti [1][1][1] - UBS is expanding its operations in India, particularly in Hyderabad, where it aims to double its workforce in the city [1][1][1] Group 2 - The hiring initiative in India is part of UBS's strategy to enhance its technology capabilities, including artificial intelligence [1][1][1] - The Swiss Bank Employees Association emphasizes the importance of retaining as many jobs as possible in Switzerland, although they did not comment on the developments in India [1][1][1]