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.

The impacted employees have been given an option to join a program that allows up to a year to find a new role within the bank.

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 were officially replaced by those of UBS on Friday. The re-bra

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.

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.