Credit Suisse Says 94 Jobs Will Be Cut in New York City

Credit Suisse Group AG (CSGN), Switzerland’s second-biggest bank, plans to cut 94 jobs at its main New York office.

The reductions will begin April 1 at the Madison Avenue location, the Zurich-based company said today in a filing with the state Department of Labor. Affected employees have already been notified, said Jack Grone, a spokesman for the bank.

Credit Suisse is seeking an additional 400 million Swiss francs ($422 million) in cost savings by the end of 2015, on top of 4 billion francs in planned cuts announced since 2011, the firm said last month.

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: David Scheer at dscheer@bloomberg.net

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