UBS Group (UBS) is reportedly cutting hundreds of jobs in Switzerland, affecting several levels, as part of its integration of formal Swiss rival Credit Suisse.

Swiss bank UBS has begun a wave of job cuts in its home market Switzerland, with hundreds of employees receiving notice in recent weeks.

UBS Group AG (NYSE:UBS) has started a series of job cuts in Switzerland, affecting both higher management levels and lower ranks, according to Bloomberg, citing individuals familiar with the situation.

UBS Group AG has removed Credit Suisse’s signs at its one-time arch-rival’s former headquarters in Zurich, replacing them with its own.

The name and logo of the former Credit Suisse headquarters at Paradeplatz 8 in Zurich's financial centre were officially replaced by those of UBS on Friday.

Banking and financial services firm, UBS Group AG has begun a series of job cuts in Switzerland, impacting both senior management and lower-level employees, according to a Bloomberg report, citing sources familiar with the matter.