property crash in dubai

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The news from Dubai goes from bad to worse. A major luxury property developer has fired around 600 staff. Dubai Properties, whose projects include the Jumeirah Beach Residence and Culture village, have made substantial jobs cuts – as many as 600 staff have been “let go.” Although my current favorite euphemism is “headcount adjustment.” The cuts affected personnel at all subsidiaries across the Dubai Properties Group, including Salwan, Injaz and Dubai Retail. No fun if you are on the receiving end, and some staff refused to resign when they were not given a reason for being asked to do so.

More on Luxury Property in Dubai – Major Developer Sheds 600 Staff and Interior Photos of the Atlantis Hotel

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