Credit Suisse Group AG (CSGN.S) said it would lay off 163 employees at its New York office, as part of a restructuring plan under new Chief Executive Tidjane Thiam.

The cuts will be effected through May, the bank said in a regulatory filing on Thursday.

Credit Suisse, Switzerland's second-biggest bank, made a total of around 200 redundancies in its London-based operations last month.

The Zurich-based bank said in February it had accelerated cost savings to lock in 1.2 billion of the targeted 3.5 billion francs by 2018, with around 4,000 jobs being cut.