Browse related articlesConstruction 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.
See Also
Also consider reading:
- » Damac hands over Terra Del Sol project
- » Saudi firm wins Jeddah Towers contract
- » Ezdan gets $89m Islamic loan
- » NBAD, Randall Evans set up $500m fund
- » Oman's largest development downgraded
- » Emaar to build Khalifa City in Egypt
- » Investors warned against 'illegal groups'
- » UAE property sector to become more 'mature'
- » Burooj eyes IPO in 2010
- » Four Cayan projects completed
Facebook
LinkedIn
Digg
Jeff Florian, Senior ReporterWednesday, December 17 - 2008 at 15:06 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
Web Feeds