Bank adds 1,200 North Carolina jobs stalled by anti-LGBT law

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

MORRISVILLE, N.C. (AP) _ Credit Suisse is adding 1,200 jobs paying an average of more than $100,000 a year at its North Carolina technology hub after the state partially repealed a state law limiting the rights of gay and transgender people.

The Swiss bank said Tuesday that its suburban Raleigh site will grow to its second-largest U.S. location after New York City. Vice Chairman Wilson Ervin says the expansion had been put on hold until House Bill 2 was partially repealed because the law contradicted core company values.

The Zurich-based bank is reorganizing operations and 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.