Swiss banking giant UBS announced plans to recruit up to 3,000 employees in India, a movement reflected by job reductions in Switzerland due to its merger with former competitor Credit Suisse.
After acquiring Credit Suisse in a 2023 rescue, UBS is slated to cut approximately 3,000 Swiss jobs mostly through natural attrition and retirements, according to CEO Sergio Ermotti. He emphasized minimizing social repercussions of the cuts.
This hiring surge will enhance UBS’s technical and operational presence in India, with a new Hyderabad facility forming a significant part of the expansion strategy to boost workforce numbers in the region.
(With inputs from agencies.)