UBS Expands Workforce in India Amid Swiss Job Cuts

UBS plans to hire up to 3,000 people in India, coinciding with job cuts in Switzerland following its integration with Credit Suisse. While UBS hasn't linked the two events, the expansion in India includes a new site in Hyderabad, emphasizing tech capabilities and operational growth.

Swiss banking giant UBS announced plans to recruit up to 3,000 employees in India, a movement reflected by job reductions in Switzerland due to its merger with former competitor Credit Suisse.

After acquiring Credit Suisse in a 2023 rescue, UBS is slated to cut approximately 3,000 Swiss jobs mostly through natural attrition and retirements, according to CEO Sergio Ermotti. He emphasized minimizing social repercussions of the cuts.

This hiring surge will enhance UBS's technical and operational presence in India, with a new Hyderabad facility forming a significant part of the expansion strategy to boost workforce numbers in the region.

(With inputs from agencies.)