UBS Group AG has cut roughly 200 jobs in London. This move advances the ongoing integration of Credit Suisse.
The bank executed these layoffs over recent weeks. Affected areas include wealth management and investment banking.
These cuts stem from a broad restructuring plan. UBS acquired Credit Suisse in March 2023.
That government-backed rescue deal expanded the workforce significantly. Consequently, UBS launched a massive multi-year integration program.
The bank aims to consolidate operations and eliminate overlapping roles. Total staff numbers have dropped by about 18 percent since the acquisition.
UBS has not disclosed exact figures per division. Some displaced workers might find alternative roles internally.
Management announced these latest reductions through internal channels. This strategy helps the firm streamline operations and achieve cost efficiencies.
Meanwhile, Canva announced separate major job cuts in early November. Canva plans to eliminate 1,271 positions globally.
CEO Melanie Perkins cited slowing expansion and technological shifts. The Canva restructuring aims to secure long-term growth and centralize Sydney teams.
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