UBS Continues to Trim Costs with $1.1bn Target
UBS is not done with cutting costs. The Swiss bank has announced its intentions to extract another $1.1bn from employment costs in 2025. With an average of $265k earned by its 105,326 employees last year, this implies over 4,000 more job cuts to come.
If you find yourself affected by these cuts, the silver lining is that you can expect a six-figure payout.
Severance Payments and Job Cuts at UBS
UBS’s 2025 annual report reveals that the bank spent $942m on severance payments for 7,538 employees last year, averaging $125k per employee. This figure is in line with the $129k average severance payment given to the 5,696 employees let go in 2024.
Notably, key risk takers who were laid off in 2025 received an average of $263k each. While this may seem generous, it pales in comparison to the $500k senior bankers at HSBC received for their departures.
Recruitment Trends at UBS
Despite the cost-cutting measures, UBS made 8,024 external hires in 2025, a slight decrease from the previous year. The bank also saw a decline in the number of graduates, interns, and apprentices hired, with only 2,117 new hires in this category in 2025.
Overall, the recruitment numbers at UBS have been fluctuating in recent years, reflecting the bank’s evolving strategies and priorities.
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