Dubai Employment News
 |
||
|
||
| HSBC UAE has issued termination notices to 90 junior and middle management employees, revealed sources close to the bank. These employees have been offered six months salary as severance package, they said. The Regional Head of HR, HSBC Bank Middle East, Joel M Famworth, said that the operating environment for Banks in the region is challenging, given the current financial uncertainty worldwide. A well-capitalized and profitable Bank like HSBC can remain open for business and respond to the changing requirements of its customers and can serve them even during tough times, he said. “However, there are difficult decisions that have to be made when adapting to a new environment, to ensure that we are better placed for the future. We deeply regret that these have led to small number of redundancies,” he said. Several banks, including several of the foreign banks in the UAE have laid off employees during the past 18 months. Several other major banks have also resorted to down-sizing staff, including a top local bank, which has laid off about 1000 staff and hopes to lay off another 1000 shortly. Few employees of the UK-headquartered HSBC Bank have expressed fear that there could another series of lay-offs in the UAE operations, which currently employs about 4000 staff. Posted on 14/8/2009 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 |
||
|
||