Dubai Employment News
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| Mashreq Bank, the largest private bank in the UAE, on Thursday announced that it has cut jobs of 175 staff, which constitute 4 percent of its global workforce. The employees, who were terminated, were chosen based on their role being no longer viable, or on the basis of their performance assessments. Mashreq, is the largest private bank in the UAE with an excellent retail presence in the region, including Bahrain and Qatar. It recorded a net profit of $517mn last year, while the total assets stood at $23.8bn. In the meanwhile, Damac, the leading Dubai-based property developer, which axed 200 jobs last November, announced more job losses yesterday. This time, another 50 employees in the marketing division have been made redundant in the UAE. Damac, in its statement, mentioned that this has been done in order to keep up with the current business environment, during realigning of business. According to Peter Riddoch, CEO of Damac, the redundancies by the company were inevitable, given the light of severe recession. Damac is one of the several property developers, who has resorted to downsizing their staff, owing to global property slowdown. Damac revealed that it plans to axe 8000 jobs, which makes up for 2.5% of its global workforce. The redundancies depict lower level of market activity. Posted on 6/2/2009 Read more newsThree new industrial parks likely to boost job prospects in Abu DhabiPositive outlook for UAE jobseekers in 2012UAE workforce to witness steady growth in 2012Pay hike on the agenda for UAE employees in 2012UAE residents unsure about job stability and new jobs in the marketImproved recruitment activity in UAE during 1H 2011Job redundancies unlikely in UAEEmirates Airline to conduct 77 recruitment fairs across the globePromotions without pay hikes, now a common trendUAE records growth in hiring process during summer monthsMonsterGulf launches Return2Home recruitment initiative for expat nationalsNew properties to generate 1000 new jobs in UAE this yearUAE salary levels most competitive in the region, say expertsRevised minimum wage policy likely for migrant Indian workersTawdheef 2011 opens on 25th January with over 2500 job vacanciesUAE job market to be streamlinedMore than half of the employers to recruit in Q4 2010Dubai among top five destinations of choice for employmentAll companies in Dubai must abide by Wage Protection SystemCompanies failing to pay timely wages will be referred to Labour Court |
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