Credit Suisse may lay off 250 employees

* Credit Suisse filed notice with NY Labor Department

* Notice said it could lay off up to 250 employees

* Layoffs began in September, will continue to year’s end

NEW YORK, Oct 26 (BestGrowthStock) – Credit Suisse Group (CSGN.VX: )
plans to lay off up to 250 employees, according to a notice
that the bank filed with the New York State Department of
Labor.

Credit Suisse filed a Workers Adjustment and Retraining
Notification (WARN) with the department on October 21 saying it
potentially may lay off up to 250 New York City workers for
economic reasons.

The Zurich-based bank said the layoffs began on September
22 and will continue through the end of the year.

The Department requires companies to file notices 90 days
before mass layoffs, which it defines as involving 250
employees.

A Credit Suisse spokesman declined to comment.

Last week, Credit Suisse reported a 74 percent decline in
net profit for the third quarter due to sluggish equities
trading [ID:nLDE69K03R].
(Reporting by Helen Kearney. Editing by Robert MacMillan)

Credit Suisse may lay off 250 employees