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Construction firm to cut up to 1,000 jobs
- United Arab Emirates: Wednesday, December 17 - 2008 at 15:06
Al Shafar General Contracting plans to trim up to 1,000 jobs following project delays and suspensions, Arabian Business has reported. CEO Bishoy Azmy said the company was forced to cut staff as clients struggled to make payments and monthly income dried up. Several projects under negotiation had been suspended as developers review their ongoing and future assignments amid the economic crisis. Staff on probation will be among the first to leave, along with underperforming employees, Azmy noted.
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Jeff Florian, Senior ReporterWednesday, December 17 - 2008 at 15:06 UAE local time (GMT+4)
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