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.

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 begun a wave of job cuts in its home market Switzerland, with hundreds of employees receiving notice in recent weeks, according to people familiar with the matter.