Emaar Properties considers cutting 250 jobsaccording media sources

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emaar_logo1Property developer Emaar Properties is considering cutting 250 jobs as the real estate sector in the emirate suffers a severe downturn, said Bloomberg.

The company has also slapped pay cuts of between 20 and 30 per cent on its employees’ wages in early March, London-based Meed magazine reported in its latest issue citing unnamed Emaar employees.
The job cuts would reduce Emaar’s total workforce to some 50 employees after it laid off around 200 employees in November 2008, Meed said.

1 COMMENT

  1. Update 1: Emaar to focus on boosting earnings
    http://english.mubasher.info/DFM/News/NewsDetails.aspx?NewsID=452481&src=G

    Emaar Properties spokesman confirmed yesterday that the company is committed to boost long-term gains, and to provide an added value to shareholders, through laying out strategies suiting current conditions.

    Commenting on recent media reports, he said that the developer has more than 2500 employees in Dubai and other 2500 in its global JVs.

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