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Credit Suisse Files to Cut 78 Jobs in New York City Office

Credit Suisse Group AG (CSGN), Switzerland’s second-biggest bank, said it plans to cut 78 jobs at its main New York office.

The reductions will begin Oct. 15 at the firm’s Madison Avenue location, the bank said today in a filing with the state Department of Labor. The Zurich-based lender said in July it planned to cut 138 jobs in the same building by Oct. 14.

Credit Suisse last year announced 3,500 job cuts to help it save about 2 billion francs ($2.15 billion) annually and said in July it would pursue an additional cost savings of 1 billion francs by the end of 2013.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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