Three years after UBS Group AG swooped in to rescue Credit Suisse, the Swiss giant moves into the last phase of merging the two banks. Chief Executive Sergio Ermotti used a recent earnings call to warn that a wave of job cuts will follow as overlapping units are pruned. The 2023 rescue, orchestrated with Swiss authorities, created the continent’s largest wealth‑management and investment‑banking platform, but stitching together divergent IT systems, risk frameworks and corporate cultures has proved arduous.

Executives now aim to trim headcount to meet the cost‑saving targets promised to shareholders and to smooth out lingering integration glitches. Analysts see the staffing reductions as a litmus test for whether the combined entity can deliver the efficiency gains that justified the emergency deal. With regulatory sign‑offs largely secured, the next weeks will focus on finalizing branch closures, consolidating back‑office functions and reassuring clients that service quality will not slip during the transition.