Credit Suisse gets $40m in tax breaks, adds 1,200 jobs in NC

AP Business Writer

RALEIGH, N.C. (AP) – Swiss bank Credit Suisse is adding 1,200 jobs at its North Carolina technology hub as it reorganizes operations and cuts jobs elsewhere.

A North Carolina state panel has approved up to $40 million in tax breaks to lure the jobs away from the New York City area.

Zurich-based Credit Suisse is sharply reducing its workforce after two years of losses, cutting up to 6,500 jobs this year after slashing its overall headcount by 7,200 last year.

Tuesday’s announcement comes five weeks after North Carolina’s partial repeal of a state law limiting gay and transgender rights.

Critics called the partial repeal a sham meant to end boycotts, because it still prevents local protections from discrimination over sexual orientation and gender identity, and puts state lawmakers in charge of bathroom policies.

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