Julius Baer is name that you might know if you do  a lot of banking on the continent or if you are in search of a good tax shelter for your excess wealth. For those of you who do not fall into either of those categories here is a look at how the company has chosen to describe itself, “Julius Baer is completely independent in each and every aspect of its business – from the focused business model and sound financials to the dedicated investment management, open product platform and expert research. Hence, it is the trusted partner of choice and a leading premium brand in global wealth management, offering best-in-class investment solutions and advice. Bank Julius Baer is the principal operating company of the Julius Baer Group, with origins dating back to 1890. The rich Swiss heritage becomes manifest in the values for which the Bank stands, e.g. trustworthiness, accountability, discretion and expertise. However, at the same time Julius Baer is a modern, forward-looking company at the leading edge of a genuine growth industry.”

Sadly the company is getting ready to cut back on about 1,000 jobs in a move that will help them to scale back to the size that they want to be at after a recent acquisition has added significantly to the head count of the company. The bank has not outlined, at the present moment, which workers it plans to be rid of as part of this wave of layoffs, so for now the workers are just going to have to wait and see what happens.

Interestingly enough the company, in its latest release, chose not to highlight the loss of jobs but instead talked about their latest presence at a conference, “Julius Baer hosts the fifth investment conference in its Next Generation series for the first time in Geneva today. The conference provides clients and investors with first-hand insights from renowned experts on growth in challenging times, discussing if and how sustainable growth can be achieved despite an environment of uncertainty. The conference sheds light on the policy choices facing the world where growth is becoming an increasingly challenging goal. In addition to exploring a range of topics related to growth, Julius Baer is introducing its new investment approach that is suited to such a rapidly changing and uncertain landscape.”

This is, of course,  by far not the only bank to make job cuts in order to save on case. For those of you who missed out on our earlier coverage here is an excerpt that will get you up to speed in no time at all, “When it comes to big banks, and the workers who are at them, there is no doubt that things are a slippery slope of employment. As banks work frenetically to keep their profits at what they deem an acceptable level, and their shareholder happy it is often the people at the bottom rung of the ladder who suffer in order for those in the hire ups to make a profit. One company that is doing that is Morgan Stanley. They have made an announcement that means that more of their workers will be getting the boot in no time at all. The company has announced that they are expecting to cut back on about another 1,000 workers in order to set its profits to the place they would like them to be.”