Swiss bank Julius Baer (OTC:
JBAXY) announced its plans to lower up to about 1,000 jobs.
The bank will cut the combined staff of about 5,700 by 15%-18%. Baer's assets under management climbed to 184 billion Swiss francs ($197.11 billion) at the end of August, versus 179 billion at the end of June.
Julius Baer shares closed at $6.93 yesterday.
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