UBS workforce

At the end of March 2009 UBS employed 76,200 people in over 50 countries. UBS expects to reduce the number of its employees to about 67,500 in 2010 in order to realize substantial cost savings in all areas.

Over the course of 2008, staff levels decreased in most UBS businesses, with the number of people employed on 31 December 2008 at 77,783, down 5,777 or 7% from year-end 2007. In 2008, UBS personnel worked in 60 countries, with about 38% of staff employed in the Americas, 34% in Switzerland, 15% in Europe, the Middle East & Africa and 13% in Asia Pacific. Employee turnover in 2008 was 19.47% (turnover defined as terminations in percentage of average overall headcount in 2008).

Internal job mobility encourages business innovation and individual career development. Mobility across regions increased slightly in 2008, with 1,285 employees moving to roles in a different region, versus 1,062 in 2007. The highest number of employees transferred from Switzerland, with 143 going to Asia Pacific, 92 going to the Americas, 63 to the UK and 57 to locations in Europe, the Middle East & Africa. Cross-division mobility was lower in 2008 than in 2007, with 784 employees changing divisions during the course of the year, versus 903 in 2007. At 238 employees, transfers from the Investment Bank to Global Wealth Management & Business Banking were most common.