What's another 1,000 ?
Julius Baer Group Ltd., the Swiss private bank established in 1890, may cut more than 1,000 jobs as it integrates Bank of America Corp. (BAC)’s non-U.S. Merrill Lynch wealth units.
Bloomberg reports that Julius Baer is targeting a reduction of 15% to 18% in the combined workforce of about 5,700, the Zurich-based company said Tuesday in a statement. The Merrill business that Julius Baer agreed to buy in August posted a first-half loss of $30.4m, the firm said.
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