Staff association warns up to 12,000 Swiss jobs at risk if UBS relocates
The Swiss Bank Employees Association says tougher capital rules could push UBS to move, putting as many as 12,000 jobs in Switzerland at risk.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
According to the Sunday newspaper NZZ am Sonntag, the Swiss Bank Employees Association (SBPV) wrote to lawmakers warning that a relocation could cost between 10,000 and 12,000 of the roughly 34,000 jobs UBS holds in Switzerland. These would come on top of cuts already under way as the bank integrates Credit Suisse, which it took over after its collapse.
A committee in the lower house of parliament is preparing to discuss how much capital UBS must hold against its foreign subsidiaries. The upper house proposed in the previous month that the bank back those units with 90% Common Equity Tier 1 capital. UBS considers that level excessive, and its chairman has warned the company would need to weigh its future in Switzerland if the rules are too harsh. According to sources cited by Reuters, the bank has drafted contingency plans, including moving its headquarters or merging with another lender.
In its letter, the SBPV called for a "viable compromise,
why it matters
x
tags
instruments
sources
- Employees group warns of major Swiss job losses if UBS relocates, newspaper says — Reuters, 25 October 2026 at 09:24 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗