UBS is shifting back-office jobs away from Zurich to smaller cities across Switzerland. The bank is opening two new service centers, one of which in Biel, the home of watchmaker Omega.
Axel Lehmann, chief operating officer of Switzerland’s largest lender UBS, in March had announced that the bank was about to create numerous jobs in regional centers across Switzerland, away from the traditional heart of Swiss banking, Zurich.
One of the new service centers, where IT and other back-office duties are performed, will be opened in Schaffhausen this fall, with some 500 work stations.
Biel and Renens
UBS will furthermore build a so-called business solution center in Biel, with about 600 work stations, according to media reports today. «We have signed a contract of lease for a former Swisscom property in Biel,» said a spokesperson for the bank. The new offices will be ready for use at the end of 2018 or in early 2019.
The company will also build a third center in Renens, in the French-speaking canton of Vaud. The size of this center will be equal to the one in Biel. UBS already has some 350 to 400 employees working in Renens.
Cost-Cutting Exercise
The relocation of service centers comes as the bank tries to reduce its operating expenses. Zurich has become too expensive as a location for service centers. The bank estimates that the costs are 12 to 20 percent lower in other cities.
