Oct 03
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Loading ...“We have seen severe investor pull-back and origination has all but dried up” said Credit Suisse Group Chief Executive Officer Brady Dougan today, supporting the layoff announcement. 170 more employees will be laid-off, following last week’s reductions in New York and London, bringing the number of terminated workers to 320. Dougan noted the he does not expect any positive movement in the global mortgage market at least for the next eighteen months, since this “problematic” sector is currently showing a rising number of loan defaults.
Tags: credit suisse | new york | london | mortgage | foreclosure
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