The unemployment rate in the banking sector is at the same level as during the 2010 financial crisis. At its General Assembly on June 12, 2026, the Swiss Bank Employees Association (SBEA) adopted a resolution with clear demands: fixed and transparent severance packages for all bank employees in Switzerland. UBS is to extend its social plan without any cuts and make a binding commitment to Switzerland as a business location. In addition, a new study on the impact of artificial intelligence on bank employees was presented—further evidence of the growing need for action.
The resolution issued by the Swiss Bank Employees Association is directed at all Swiss banks. The SBEA is calling for industry-standard and transparent severance packages across the board. These must apply regardless of any planned mass layoffs. Currently, at some institutions, the terms of severance for economically justified layoffs are neither communicated fairly nor transparently.
UBS has a special responsibility
As the industry’s largest employer, the SBEA holds UBS to a particularly high standard. The social plan, which expires at the end of 2026, must be extended without any cuts. Furthermore, the SBEA demands a clear commitment to keeping the headquarters in Switzerland and to securing the more than 30,000 jobs in Switzerland for the long term.
We expect UBS’s leadership to make a clear and binding commitment to keeping its headquarters in Switzerland and to safeguarding the jobs based here in the long term.
— Michael von Felten, President of the SBEA
AI is transforming everyday banking – banks must adapt
At the General Assembly, a new study by the Lucerne University of Applied Sciences and Arts was presented; commissioned by the SBEA, it examines the impact of artificial intelligence on bank employees. The study shows that AI is leading to a profound transformation of job duties, with increasing work intensity and changing skill requirements. The SBEA expects banks to proactively shape this change through open communication, targeted training and continuing education measures, and a clear commitment to placing employees at the center of the transformation.
Federal Council Negligently Ignores 120,000 Jobs
At the federal level, a debate is currently underway regarding the revision of banking legislation. The SBEA criticizes the Federal Council for completely ignoring the consequences for the Swiss labor market. This is irresponsible: As Switzerland’s largest bank, UBS serves as a central infrastructure for most regional and cantonal banks—and thus for the entire SME sector. Regulation that would result in a takeover of UBS or a relocation of its headquarters abroad would trigger a domino effect far beyond the major bank—causing massive economic damage and the loss of tens of thousands of jobs. The SBEA calls on the Federal Council and Parliament to seek a pragmatic compromise that safeguards both financial stability and jobs.
We are committed to a pragmatic compromise on banking regulation that ensures the necessary stability of the financial center without jeopardizing job security or the region’s attractiveness.
— Natalia Ferrara, Vice President of the SBEA
The full resolution and the study “How Artificial Intelligence Affects Bank Employees” by the Lucerne University of Applied Sciences and Arts can be found here.
