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Swiss Life to cut 600 jobs by 2028 amid rising profits
Swiss Life has announced a plan to reduce its workforce by approximately 600 positions by the end of 2028. The restructuring aims to increase operating efficiency and support profitable growth beyond 2027 through enhanced digitalization and automation.
The job reductions will be split roughly evenly between Swiss Life’s domestic operations in Switzerland and its international asset-management business, primarily through Swiss Life Asset Managers. The company intends to achieve most of these reductions through natural attrition rather than mass layoffs. Approximately 100 positions have already been reduced through selective hiring practices, with another 100 expected to be cut by the end of 2026.
This workforce reduction coincides with strong financial performance for the first half of 2026. The group reported a net profit increase of 8 percent to 649 million Swiss francs. Additionally, the company launched a new share buyback program valued at 250 million Swiss francs.
Entities
Banque Migros · Erich Ettlin · Matthias Aellig · Migros Bank · Sika · Sonova · Ständeratskommission für Wirtschaft und Abgaben · Swiss Banking · Swiss Life · Swiss Life Asset Managers · Swiss Re · Switzerland
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Swiss Re shares rose 0.86 percent to approximately 141.15 Swiss francs on August 28, 2026.
- [● 4 SOURCES] Migros Bank's net profit increased by 18.9 million to 151.5 million Swiss francs. www.lfm.ch
- [○ 1 SOURCE] Sika reported H1 2026 revenue in the high single-digit billions of Swiss francs.
- [● 3 SOURCES] Migros Bank's business success rose 14.7 percent to 185.5 million Swiss francs in H1 2026.
- [● 3 SOURCES] Total business income increased by 8.6 percent to 433.8 million Swiss francs.
- [● 3 SOURCES] Net income from interest business rose 9.8 percent to 319.4 million Swiss francs.
- [● 3 SOURCES] The WAK-S commission proposes requiring systemically important banks to back foreign holdings with 50 percent CET1 capital. www.finanzen.at · www.finanznachrichten.de
- [○ 1 SOURCE] Swiss Re reported a net profit of 2.8 billion US dollars for the first half of 2026. www.ad-hoc-news.de
- [● 3 SOURCES] The remaining 50 percent of foreign holdings should be covered by restructured AT1 bonds. www.finanzen.at · www.finanznachrichten.de
- [○ 1 SOURCE] Swiss Life reported a net profit of 649 million Swiss francs for the first half of 2026. www.moneycab.com
- [○ 1 SOURCE] Swiss Re maintains a 2026 full-year profit target of 4.5 billion US dollars. www.ad-hoc-news.de
- [○ 1 SOURCE] The Swiss Re Institute estimated global insured natural catastrophe losses at 42 billion US dollars for the first half of 2026. www.ad-hoc-news.de