There's an increasing body of anecdotal evidence that many companies are cutting back on staffing, although they're not going around telling the papers and, from the coverage we're seeing, the papers aren't really asking that much. There seem to be an awful lot of low-profile tens and fifteens behind those few high profile five hundreds.
What I have found amazing are the stories of people who have been told by text that they don't have jobs any more. An SMS the night before, telling them not to bother turning up at the office.
Sacked by text message! It doesn't seem to be the kind of thing you'd find in the 'Good HR Handbook' does it?
10 comments:
Well, just the published ones include:
Nakheel with 500
Tameer with 180
Damac with 200
Shuaa with 21
Morgan Stanley with 11
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And YES, there are many others which are not disclosing it. Among them there are some of the largest international commercial banks where the retail staff responsible for mobilizing deposits is getting notices. This recession is the worst we have seen since the 1920s and the fact is that no matter what the authorities say, the situation in the investment banking and commercial banking industry is very bad. There is practically no business and resultantly job security is at an all time low for this part of the world. To top it all off, far too many banks have been hiring aggressively this year and now have inflated payroll expenses.
Alex, the 'Good HR Handbook' is out of print in Dubai.
To add to the post and list
above ^:
Dubai Properties / Tatweer ~600
Atkins ~170
WSP consultants ~100
Archon cosultants ~ 70
Bovis Lend Lease ~ 50
etc. etc.
that sucks. but atleast they don't have to wake up early the next day.
7 out of the 10 staff at Lloyds' mortgage department too, according to AB.com...
Go on, name and shame.....
Sacked by SMS, what low-lifes.
HMHB
I'm also hearing of department managers having no prior warning of firings and no input into who stays or goes. They're simply given a list of the people who've been fired.
The words property, big and developer come to mind...
Another remote concept here, 'respect'.
Sobbering this time.
beneath the tsacky glitz, glamour and all else lebanese inspired, true colours often show up! ain't surprised at all.
On the subject of disgraceful HR practices, a friend recently told me that several of her friends were dismissed from Dubai Properties with the following options:
1. Resign and leave now without any payments and we'll give you good references
OR
2. We'll fire you, give you your money and no references.
99% took the the firing option - presumably because a reference from the company would be more of a disadvantage in looking for future work . . .
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