Though the Swiss unemployment rate – about 3 percent currently – remains lower than elsewhere in Europe, some companies in Switzerland have announced job cuts this autumn.
The large-scale jobs cut trend began in Switzerland in 2025, with massive redundancies at Geneva’s UN agencies.
Thousands of posts had been eliminated there after the United States ended funding for certain international organisations which did not align with President Trump’s policies.
READ MORE: How many jobs have been lost in Geneva’s international agencies
But Switzerland’s private sector was also hit hard by these cuts.
A number of companies announced massive lay-off that continue into this year and next ones as well.
For instance, at UBS, some 3,000 employees have already lost their jobs in Switzerland, as part of the bank’s plan to fire 10,000 of its global workforce.
At Helvetia Baloise insurance group, up to 2,300 positions will be eliminated in Switzerland over the next three years.
The national broadcaster, Swiss Broadcasting Corporation, is planning to dismiss 900 employees over the next three years in an effort to reduce costs.
And the pharmaceutical giant Novartis plans to cut 550 jobs in Switzerland by the end of 2027.
READ MORE: The companies in Switzerland that have cut jobs in 2026
And certain industries, especially the manufacturing one, have suffered significant losses as well: according to Martin Hirzel, head of the Swissmem union that represents this sector, 6,600 jobs were lost in 2025, mainly due to global upheavals.
Unfortunately, there are more cuts on the horizon:
Zimmer Biomet
In early-September, US medical tech group Zimmer Biomet announced that it was set to cut some 580 jobs as part of restructuring plans at its manufacturing base in Winterthur, Zurich.
However, the group also warned that it had not made a final decision about the restructuring or redundancy numbers and that a consultation process would begin.
Swiss Life
The insurance giant plans to eliminate approximately 600 positions by the end of 2028 – 100 of which will be scrapped already this year.
The reason behind this measure is “to continue to develop its business profitably beyond 2027, exploit market opportunities and improve operational efficiency.”
Raiffeisen
As part of its strategy to improve long-term sustainability, the bank is cutting up to 180 jobs this year.
Sunrise
The telecom is scrapping 190 jobs this year to “simplify and rationalise” its operations.
Swiss Post
The Swiss Post announced in September that it is planning to eliminate up to 110 positions in 2027.
It attributes these measures to the need to save money due to decline in letter volumes and over-the-counter transactions.
“Growth in new business areas and pricing adjustments are not yet sufficient to offset the drop in revenue,” the company said.
These job losses will not be the only ones: other companies Switzerland also said they would be eliminating a number of positions
Skyguide
If you fly often, you probably don’t even want to think what this could mean for air traffic safety, but the company is dismissing 50 employees at Switzerland’s airports, between now and next year.
What does the future hold?
The outlook is more positive for next year.
Economics professor Michael Siegenthaler told the Swiss media that “it will take another six months before we truly emerge from the crisis.”
After that, however, the situation on the job market “should improve.”
We’ll update this article as we learn of other major job cuts in Switzerland this autumn.
