Many jobs have been advertised. Credit Suisse and UBS are looking for employees

Although the acquisition of Credit Suisse by UBS will lead to significant job cuts, the two large banks are currently looking for employees. And not too tight, as job advertisements make it out to be.

Credit Suisse has 130 vacancies in Switzerland alone. This is evidenced by the evaluation of job postings on various banking websites, which the job portal has already carried out for the AWP news agency. CS job postings include positions with administrative responsibility.

The fact that CS is looking for employees despite the impending acquisition likely has something to do with the numerous layoffs during the controversies of recent months. Because until the two banks are merged legally and operationally, the bank must continue as before. This is not possible without employees.

Meanwhile, UBS is also looking for employees: according to an analysis by the job portal Indeed, the bank currently has 234 vacancies. IT professionals are particularly sought after.

There is a risk of job cuts in the medium term

However, job cuts are expected in the combined UPS and Credit Suisse in the medium term. Media reports speculate that the new merged bank will lose up to 30,000 jobs worldwide compared to today, 11,000 of them in Switzerland. There are no official figures on the size of job cuts due to expected synergies and duplications.

At the end of 2022, the two banks together had a total of 123,000 FTEs. According to the latest figures, there are 21,000 employees on the payroll at UBS in Switzerland and around 11,000 at Credit Suisse.

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