Boom Amid Gloom by Janardhan N.;

Author:Janardhan, N.; [Janardhan, N]
Language: eng
Format: epub
Publisher: Garnet Publishing (UK) Ltd
Published: 2014-07-31T00:00:00+00:00

Note: *Forecast

Source: GulfTalent.com.

Dubai World, for example, cut its global workforce by 15 per cent to just under 70,000, with the deepest cuts in the UAE, even before the debt repayment standstill was announced in late November 2009. In just one month in November 2008, Nakheel cut 500 jobs, or 15 per cent of its workforce, and Deyaar Development, Dubai’s second-largest developer, laid off about 60 people, or 20 per cent of its workforce.86 Reports also revealed that the number of expatriate workers in Kuwait dropped by at least 20,000 to 1.75 million at the end of 2008, the first drop since the Iraqi invasion of the country in 1990.87

The economic crisis did not even spare the GCC nationals in the private sector. For example, after a group of Emiratis were ousted in Dubai, a proposal to ban companies in the private sector from sacking nationals other than for labour law violations was considered. The National Human Resource Development and Employment Authority (Tanmia) submitted a draft proposal to the UAE Ministry of Labour that also stipulated that any company in the private sector forced to terminate Emiratis as part of restructuring policies ‘aimed at increasing competitiveness, review of production costs in tough times, or in cases involving mergers between companies’ must inform the ministry prior to enforcing the decision.

FIGURE 4.1

Redundancies by country: percentage of employees who were made redundant in 2009

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