x Abu Dhabi, UAESunday 23 July 2017

Dubai World lay offs 100 corporate services staff

The state-owned investor says it had reduced the number of employees in its corporate services division by 10 per cent.

DUBAI // Dubai World, the investment arm of the emirate's Government, said on Tuesday it had reduced the number of employees in its corporate services division by 10 per cent, or 100 employees. "This decision covers 100 mid- and lower-level employees of departments that provide general services to the group," the firm, which controls ports operator DP World, said in a statement. Several Dubai firms have announced lay offs since a global financial crisis brought to an end a building boom in the emirate.

"The consolidation follows a prolonged period of intense business expansion. In reviewing staffing levels, the group aims to bring new efficiencies in its operations and prepare for future growth opportunities," it said. *Reuters