UBS’s Strategic Workforce Changes<\/p>\n
ZURICH, Feb 11 (Reuters) – UBS expects to hire up to 3,000 people in India, the Swiss bank said on Wednesday, a figure similar to the number of jobs set to disappear in Switzerland as a result of its integration with former rival Credit Suisse.<\/p>\n
Job Cuts in Switzerland<\/p>\n
UBS declined to say whether the two developments were connected, and sources close to the bank said there was no link.<\/p>\n
Hiring Plans in India<\/p>\n
UBS bought Credit Suisse in a state-engineered rescue in 2023, leaving it as Switzerland’s sole major banking group. It has said around 3,000 Swiss jobs will be cut, most likely later this year.<\/p>\n
Expansion in Hyderabad<\/p>\n
Most roles are expected to go through natural attrition or early retirements, according to CEO Sergio Ermotti, who has said the bank aims to limit the social impact.<\/p>\n
Focus on Technology and AI<\/p>\n
In India, where UBS already has several offices, the bank is opening an additional site in Hyderabad, where it plans to add 2,000 to 3,000 roles in the coming months.<\/p>\n
The hiring push would double UBS’s workforce in the city, it said.<\/p>\n
“We’re looking forward to further expanding our tech capabilities, including AI, while enhancing our operations footprint in the location,” said Matthias Schacke, who heads UBS’ operations in India.<\/p>\n
Natalia Ferrara, vice president of the Swiss Bank Employees Association, declined to comment on developments in India but said Swiss rules should not make the country unattractive for UBS.<\/p>\n
“It is extremely important to us that as many jobs as possible remain in Switzerland,” she said.<\/p>\n
(Reporting by Ariane Luthi. Editing by Mark Potter)<\/p>\n","protected":false},"excerpt":{"rendered":"UBS’s Strategic Workforce Changes ZURICH, Feb 11 (Reuters) – UBS expects to hire up to 3,000 people in…\n","protected":false},"author":2,"featured_media":1211,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1621,1623,1617,1620,1616,41,1618,17,1619,1622],"class_list":{"0":"post-1210","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-switzerland","8":"tag-ai-capabilities","9":"tag-banking-employment","10":"tag-credit-suisse-integration","11":"tag-hyderabad-office","12":"tag-job-creation-india","13":"tag-swiss","14":"tag-swiss-banking-jobs","15":"tag-switzerland","16":"tag-technology-expansion","17":"tag-workforce-changes"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/1210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=1210"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/1210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/1211"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=1210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=1210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=1210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}