NEW YORK ( TheStreet) -- Credit Suisse ( CS) announced Monday it would defer more employee compensation, in addition to increasing the degree to which employees will be compensated in stock instead of cash. The changes reflect "the bank's commitment to rewarding its employees for performing in a way that creates sustainable value for the bank and its shareholders over time," the bank said.
As part of the changes, employees earning at least 50,000 Swiss francs (about $51,800) will be subject to deferred compensation, compared to 125,000 ($129,500) previously. Between 35-70% of the compensation will be deferred, a larger portion than was previously the case, the bank said. The deferral period appears to be four years in all cases, though Credit Suisse said it would provide more details in its annual report. -- Written by Dan Freed in New York.