Raiffeisen Targets Workforce Reduction as Swiss Banking Giant Reshapes Operations
Switzerland’s second-largest banking group is preparing to eliminate up to 180 positions as part of a broad efficiency initiative designed to streamline operations and strengthen long-term profitability, even as the cooperative lender reports one of its strongest financial performances in recent years.
Raiffeisen Switzerland announced on Wednesday that it intends to reduce personnel and operating expenses by approximately CHF60 million by 2027 through a combination of organizational restructuring and cost-control measures. The planned reductions could affect as many as 180 positions across the organization, though the bank says a substantial portion of the cuts is expected to occur without compulsory layoffs.
The St. Gallen-based institution said more than half of the affected roles could be eliminated through natural employee turnover, the removal of unfilled positions, reduced reliance on external contractors and early-retirement arrangements. The approach reflects a strategy increasingly used by large financial institutions seeking to improve efficiency while limiting the social impact of workforce reductions.
The workforce adjustment comes alongside a significant internal reorganization. Beginning in October, Raiffeisen Switzerland will operate under a revised structure consisting of six departments. The new framework includes dedicated divisions focused on private clients and corporate customers, while also creating a new Products & Solutions unit intended to support the bank’s future growth strategy.
As part of the reorganization, leadership changes are also underway. Philipp Ackermann will head the Corporate Clients & Trading division, while Patrick Lehner will oversee Private Clients. Two current executive management members, Roland Altwegg and Helen Fricker, are expected to leave the organization during the transition.
The restructuring announcement is notable because it arrives at a time when Raiffeisen is reporting robust financial results rather than financial distress. The bank posted net profit of CHF659 million during the first half of 2026, representing an increase of nearly 19% compared with the same period a year earlier. Operating profit climbed more than 17% to CHF785 million, while total operating income exceeded CHF2 billion.
Strong performance across several business lines helped drive the earnings increase. Net interest income remained the institution’s largest revenue source, while commission-based services and trading activities also recorded growth. The bank attributed part of the increase in trading revenue to heightened client activity in foreign exchange and precious-metals markets during a period of elevated financial-market volatility.
The latest figures indicate that Raiffeisen continues to benefit from its extensive presence across Switzerland. The banking group operates hundreds of branches and maintains a significant position in the country’s retail banking and mortgage sectors. During the first half of the year, mortgage lending expanded further, while customer deposits and investment assets also increased. The institution reported strong inflows into investment and pension products, reflecting continued demand from Swiss savers seeking long-term financial planning solutions.
Management argues that the restructuring effort is intended to ensure the bank remains competitive as the financial-services industry undergoes rapid transformation. Banks across Europe and Switzerland continue to face pressure to modernize technology platforms, improve digital services and manage costs in an environment shaped by changing customer expectations and evolving regulatory requirements.
The move also highlights a broader challenge facing the banking sector. While many institutions have returned to healthy profitability following years of low interest rates, executives remain focused on improving efficiency ratios and controlling expenses. For investors and management teams alike, maintaining profitability increasingly depends on balancing growth initiatives with disciplined cost management.
Raiffeisen’s efficiency measures arrive during a period of significant change for Swiss banking. Traditional lenders are investing heavily in digital capabilities while adapting to shifts in customer behavior that increasingly favor online and mobile banking services. These developments have prompted many financial institutions to reassess organizational structures, staffing levels and operational processes.
The bank’s leadership, headed by Chief Executive Officer Gabriel Brenna, has expressed confidence about business conditions during the remainder of the year. Management expects the Swiss economy to remain resilient despite global uncertainties and continues to anticipate strength in the domestic property market. The bank also believes demand for financial services and investment products will remain supportive of future growth.
For employees and the broader financial sector, the announcement represents another example of how even profitable banks are pursuing structural changes to prepare for future competition. Although the planned workforce reduction represents a relatively small share of Raiffeisen’s overall employee base, it underscores the continuing emphasis on efficiency across the banking industry.
As implementation begins over the coming months, attention will focus on how successfully the lender can achieve its cost-saving targets while preserving customer service levels and supporting its long-term growth ambitions. With profits rising and business activity remaining strong, Raiffeisen is positioning the restructuring not as a response to weakness, but as part of a strategy aimed at strengthening its competitive position in Switzerland’s evolving financial landscape.
