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Posted On: 12 December 2008 02:09 pm
Updated On: 12 November 2020 02:09 pm

40% feel Gulf immune from job cuts: poll

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DESPITE the economic turmoil rocking the world, almost half the people of the Gulf think that the region would not be affected by job cuts. Some 40% of people who took part in a poll conducted by Arabian Business said they thought the Gulf region would be immune from job cuts. But, 38% of the respondents said that they were really worried about the future and feared that their job could be the next one to be lost. Just 4% of respondents said they felt the economic crisis would not affect them and they thought their job was safe while a further 18% thought more job losses would be announced over the next few weeks but they would be limited to the real estate sector. According to the results of the survey, which attracted hundreds of votes, a large number of people are worried about where the next job cuts are going to be made. The magazine ran the poll after news last week that Dubai government-owned Nakheel, developer of the man-made Palm islands, said it had cut 500 jobs or 15% of its workforce as it scaled back projects amid the global financial crisis. Job cuts have also been announced by other developers, including Damac, Tameer and Omniyat, as the global financial crisis takes hold on the region. Other companies such as Emaar Properties and Tatweer, the developer behind the huge Dubailand project, have also said they are reviewing their jobs policy in light of the economic situation. People from across the region, including Qatar, took part in the poll.