Private bank Julius Bär says it is slashing 150 jobs as part of its third cutting round this year.This content was published on November 14, 2011 - 10:13
All sectors will be affected by the programme to be effective by the middle of next year, according to a company statement.
The bank hopes to achieve cost reductions of SFr40 million ($44.4 million) annually.
Julius Bär already implemented similar measures in February and June.
The Zurich-based bank, which reported SFr166 billion assets under management in October, employs around 3,600 staff worldwide.