Raiffeisen Schweiz Cuts Up to 180 Jobs
Savings Program Targets CHF 60 Million by 2027
Raiffeisen Saves CHF 60 Million – Despite Strong Profit Growth
Raiffeisen Schweiz aims to save approximately CHF 60 million in personnel and operating costs by 2027. Up to 180 positions at Raiffeisen Schweiz are affected. Concurrently, the Raiffeisen Group achieved a net profit of CHF 659.3 million in the first half of 2026 – an increase of 18.9 percent compared to the previous year. The job cuts are therefore not a result of declining profits but part of an organizational realignment and an efficiency program.
At first glance, the news is surprising: a bank reports significantly higher profits while simultaneously announcing job reductions. However, for Raiffeisen Schweiz, this is not about an acute crisis. The company intends to improve its cost structure long-term and reorganize itself.
Up to 180 Jobs Affected at Raiffeisen Schweiz
Raiffeisen Schweiz plans to save approximately CHF 60 million in personnel and operating costs in 2027. As a result of these measures, up to 180 positions at Raiffeisen Schweiz may be eliminated.
According to the company, the reductions are intended to be as socially responsible as possible. More than half of the affected positions can be reduced through natural attrition, the elimination of unfilled positions, a reduction in external staff, and early retirements.
Therefore, the number of 180 positions should be understood as a maximum figure. It does not mean that 180 employees will necessarily be laid off. The actual number of jobs eliminated depends on the implementation of individual measures.
Reductions Affect Raiffeisen Schweiz – Not the Entire Group
An important distinction is necessary here: the announced job reductions concern Raiffeisen Schweiz. They should not be interpreted as job cuts across all local Raiffeisen banks.
Raiffeisen Schweiz is the central organization of the group. Among other things, it provides overarching services and supports the independent Raiffeisen banks. The individual Raiffeisen banks are legally independent cooperatives.
The entire Raiffeisen Group employs approximately 13,000 people. The figure of up to 180 affected positions, however, refers to Raiffeisen Schweiz.
Why Is a Bank That Earns Significantly More Cutting Costs?
This very question is at the heart of the current announcement.
Raiffeisen Schweiz justifies the program with the goal of maintaining a good cost-income ratio long-term. At the same time, the organization aims to become more efficient and provide even better support to the Raiffeisen banks.
The job cuts cannot therefore be explained by a business downturn. On the contrary: business development in the first half of the year was very positive, according to Raiffeisen.
The bank instead aims to adapt its structures and reduce costs permanently. Especially in a highly digitalized financial sector, processes, IT structures, and organizational tasks can be made increasingly efficient.
Half-Year Profit Rises by Almost 19 Percent
The business figures show how strongly Raiffeisen is currently earning.
- Net Profit: CHF 659.3 million, +18.9 percent
- Operating Result: CHF 785 million, +17.1 percent
- Operating Income: approximately CHF 2.04 billion, +7.6 percent
- Customer Loans: CHF 248.5 billion
- Mortgage Receivables: CHF 235.3 billion
- Net New Money Inflow into Investment and Pension Accounts: CHF 3.3 billion
Half-year profit increased by CHF 104.7 million compared to the previous year, reaching CHF 659.3 million. The interest business and the commission and service business performed particularly well.
Mortgage Business Continues to Grow
Raiffeisen was also able to expand its lending business. Mortgage receivables rose by CHF 4.4 billion in the first half of the year, reaching CHF 235.3 billion. This corresponds to a growth of 1.9 percent.
Total customer loans also increased by CHF 4.7 billion to CHF 248.5 billion. More than one third of this growth was attributable to corporate client business.
Customer deposits also developed positively, rising by CHF 3 billion to CHF 228.7 billion.
Strong Growth in Investment and Pension Business
Not only the traditional interest business performed positively. The investment and pension business also grew significantly.
Net new money inflow into investment and pension accounts already reached CHF 3.3 billion in the first half of the year. This attracted more new money than in the entire previous year. Simultaneously, Raiffeisen opened around 45,000 new securities accounts.
This shows that the bank is trying to diversify its revenue sources and benefit more from investment and pension products in addition to its traditional mortgage business.
Raiffeisen Reorganizes
The planned job cuts are part of a larger organizational change.
Effective October 1, 2026, Raiffeisen Schweiz will be newly structured into six departments: Private Clients, Corporate Clients & Trading, Products & Solutions, Finance & Banking Support, IT, and Risk & Compliance.
With this, the bank aims to improve customer orientation, accelerate implementation, and provide stronger support to its affiliated Raiffeisen banks.
Philipp Ackermann will head the Corporate Clients & Trading department. Patrick Lehner will lead the Private Clients department. The head of the new Products & Solutions department has not yet been appointed at the time of the announcement.
Two Members of Executive Board to Depart
The reorganization also brings changes in leadership.
Current Executive Board members Roland Altwegg and Helen Fricker will leave Raiffeisen Schweiz in September 2026. Both have agreed with the company to relinquish their functions as part of the organizational adjustments.
Raiffeisen describes these changes as part of the ongoing development of its organization. The bank aims to create the conditions for further driving growth and innovation.
Job Cuts Are Smaller Than Initial Figures Suggest
The figure of 180 jobs initially sounds substantial. However, in relation to the entire Raiffeisen Group, it is relatively small. The group employs approximately 13,000 people.
Moreover, more than half of the reduction is expected to be achieved without traditional layoffs. This includes natural attrition, the decision not to fill open positions, fewer external staff, and early retirements.
Nevertheless, the program may have consequences for individual employees. Raiffeisen speaks of responsible implementation but does not provide a detailed number at this time on how many actual terminations will be necessary.
No Savings Program Due to Profit Decline
The figures contradict the interpretation that Raiffeisen must cut jobs due to a poor business situation.
Profit is rising significantly, lending business is growing, and customer deposits as well as investment business are developing positively. At the same time, the bank evidently sees scope to make its structures more efficient and reduce its cost base.
The target of approximately CHF 60 million in savings therefore primarily indicates that Raiffeisen intends to control cost development in the long term.
The Swiss Economy Also Remains a Factor
Raiffeisen expects real GDP growth of 0.8 percent for the Swiss economy in 2026. Concurrently, the bank anticipates continued increased volatility in financial markets.
According to Raiffeisen economists, the export industry shows signs of recovery despite geopolitical uncertainties. For the second half of 2026, Raiffeisen expects stable business development above the previous year's level.
The bank also assumes that Swiss real estate prices will remain under upward pressure long-term. The reason for this is continued high demand coupled with limited supply.
What Do the Job Cuts Mean for Raiffeisen?
This development shows a trend affecting the entire financial sector: even with good profits, banks may seek to streamline their structures and increase productivity.
For Raiffeisen, this represents a balancing act. On one hand, business is growing, and the bank wants to expand its position in investment, pension, and corporate client business. On the other hand, costs are to be significantly reduced long-term.
Whether the new organization will indeed operate more efficiently while enabling the planned growth will only become clear in the coming years.
Conclusion
Raiffeisen is not under pressure due to a profit decline. On the contrary: the half-year profit for 2026 rose by 18.9 percent to CHF 659.3 million.
Nevertheless, Raiffeisen Schweiz plans savings of approximately CHF 60 million in personnel and operating costs by 2027. Up to 180 positions at Raiffeisen Schweiz may be affected. More than half are expected to be reduced through natural attrition, unfilled positions, fewer external staff, and early retirements.
In parallel, Raiffeisen Schweiz is reorganizing itself. From October, the central organization will be structured into six departments. The bank aims to become more efficient, strengthen its customer focus, and better support the local Raiffeisen banks.
The real question is therefore not whether Raiffeisen is currently making money. The bank clearly is. The crucial factor will rather be whether it succeeds in combining strong growth with a permanently more efficient cost structure to combine.
Sources
- Raiffeisen Schweiz: "Raiffeisen with Very Good Half-Year Results – Broadly Based Growth", August 26, 2026.
- Raiffeisen Schweiz: "Changes in the Organizational Structure of Raiffeisen Schweiz", August 26, 2026.
- Nau.ch / Keystone-SDA: "Raiffeisen Cuts Up to 180 Jobs", August 26, 2026.
