UBS May Cut 12,000 Swiss Jobs Over Capital Rules

The Swiss Bank Employees Association warned lawmakers that UBS could eliminate between 10,000 and 12,000 jobs in Switzerland if the government implements stricter capital requirements. This warning follows a September 2026 proposal by the upper house of the Swiss parliament requiring UBS to back its foreign subsidiaries with 90% Common Equity Tier 1 capital.

UBS has characterized the proposed requirement as excessive. The bank's chairman indicated that such stringent regulations would force the company to re-evaluate its future within the country. While the bank is already reducing staff as part of its integration of Credit Suisse, the employees association argues that additional regulatory pressure could drive the bank to relocate its headquarters or merge with another institution.

Some shareholders have already advocated for a merger, and the association suggests that the current legislative trajectory increases the likelihood of such a move or a total exit from the Swiss market.