Survey: 86% of Israeli companies cut expenses due to credit crisis

A survey conducted by the Manufacturers Association of Israel found that 86% of Israeli companies have been forced to cut their expenses in response to the credit crisis. The study, which polled 175 companies, also found that 63% of firms are experiencing credit difficulties.

Manufacturers Association President Zvika Oren said that the crisis could significantly stunt hiring and growth. (Ran Rimon)