Tue, Apr 23rd 2024
Decline in Swiss banks job market deepens post-UBS and Credit Suisse merger, with significant cuts projected by 2026.
The number of vacancies at the ten largest Swiss banks continued to fall in April. The number of advertised jobs fell by almost 18% to 730, the lowest number of vacancies since Credit Suisse was taken over by UBS.
The number of vacancies at Credit Suisse in particular has plummeted by a good 70% to 38, according to an analysis by the job portal Indeed, which counts and analyses the jobs advertised on the websites of the ten largest Swiss banks for the news agency AWP.
UBS itself currently still has 196 jobs advertised, which is 2.5% fewer than two months ago.
Following the announcement of the takeover, both UBS and CS initially searched diligently for additional staff. After all, an operational integration of this size cannot take place overnight.
Officially, UBS is taking until the end of 2026 to achieve this, but work on merging the two banks has already gathered pace. The merger is expected to result in 3,000 redundancies in Switzerland alone.
At the same time, other banks in this country also appear to be exercising restraint when it comes to recruitment: With Vontobel and Raiffeisen, just two of the ten financial institutions surveyed have advertised more jobs than in February.
©Keystone/SDA
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