Raiffeisen Switzerland plans to save around CHF 60 million in personnel and operating costs by 2027, putting up to 180 positions at risk. The announcement came as the banking group reported a strong first half, with net profit rising 18.9% to CHF 659.3 million.
The planned reductions are part of an “efficiency programme” and a broader organisational restructuring at Raiffeisen Switzerland.
The bank said more than half of the affected positions could be eliminated through natural staff turnover, the removal of vacant posts, a reduction in external workers and early retirements.
The bank has not said how many employees could face compulsory redundancy. It has, however, booked CHF 14 million in restructuring provisions related to the planned measures.
The cuts come as Raiffeisen continues to expand. Its balance sheet grew 3.8% to CHF 335.2 billion in the first half, while customer loans increased by CHF 4.7 billion to CHF 248.5 billion. Customer deposits rose by CHF 3 billion to CHF 228.7 billion.
Raiffeisen is not the only Swiss company cutting jobs.
Swiss watchmaker IWC is cutting 18 of roughly 800 jobs at its Schaffhausen manufacturing site, the company confirmed, after a financial blog Inside Paradeplatz first reported that “several dozen” employees faced dismissal.
IWC’s annual production has fallen from a past peak of around 170,000 watches to fewer than 100,000 today.
IWC spokesperson Riccardo Soliani Brivio confirmed the cuts directly to a local newspaper. “Of the roughly 800 employees in Schaffhausen, 18 positions are affected,” he said, adding that the company had reached individual agreements with all affected employees and that each would receive tailored support.
In a separate statement to the news agency AWP, an IWC spokesperson said the company is “adjusting parts of its organisational structure to reflect the company’s ongoing development and long-term plans.” IWC emphasised it remains committed to its Schaffhausen production site and continues to invest there.
Read More: Zurich Insurance Denies Comment On Report Of 500 Jobs At Risk – Helvetica Times
Switzerland Job Cuts Despite A Profit Rise Of 18.9%
Raiffeisen’s net profit increased by CHF 104.7 million to CHF 659.3 million. Operating income rose 7.6% to CHF 2.04 billion, supported by growth across several business areas.
Net interest income increased 6.3% to CHF 1.408 billion. Income from commission and service fees rose 8.4% to CHF 397 million, while trading income jumped 24.6% to CHF 169.4 million as customers traded more actively in foreign exchange and precious metals amid heightened market volatility.
The group’s operating result reached CHF 785.1 million. Its cost-to-income ratio improved to 56.8%, compared with 59.4% at the end of 2025.
Raiffeisen attracted CHF 3.3 billion in net new money into investment and pension accounts during the first six months of the year. CHF 2.8 billion flowed into asset-management mandates.
Customers opened around 45,000 new investment accounts, including more than 14,000 asset-management mandates, over 10,000 fund-savings accounts and around 18,000 pension accounts. Total customer assets under management increased by CHF 7.7 billion to CHF 289.8 billion, while investment assets rose 9.7% to CHF 65.6 billion.
Mortgage loans increased by CHF 4.4 billion to CHF 235.3 billion. Corporate banking accounted for CHF 1.7 billion of the overall increase in customer loans, taking the business’s loan volume to CHF 58.8 billion, up 3.2%.
Credit quality remained strong. The share of provisions for non-performing loans fell slightly to 0.136% of customer loans, compared with 0.141% at the end of 2025.
Raiffeisen Switzerland is reorganising its management structure and will operate with six departments from October. The new structure includes Private Customers, Corporate Customers & Trading, and a new Products & Solutions division.
Philipp Ackermann will lead Corporate Customers & Trading, while Patrick Lehner will head Private Customers. Existing management board members Roland Altwegg and Helen Fricker are due to leave Raiffeisen Switzerland in September. The bank is still seeking a head for Products & Solutions.
Equity and loss-absorbing assets increased to CHF 28.6 billion. The risk-weighted TLAC ratio rose to 28.0%, up from 27.5% at the end of 2025. Raiffeisen also issued a CHF 200 million bail-in bond in May.
Fitch upgraded Raiffeisen’s long-term issuer default rating to AA- from A+ in spring 2026, making it one of the highest-rated banks internationally.
