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Discuss this article (12 Comments)First Gulf cuts 'scores of jobs'
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 22 December 2008
JOB CUTS: The First Gulf executive said most cutbacks related to outsourced people. (ITP image)
The United Arab Emirates' First Gulf Bank has cut "scores of jobs" to trim costs following the global financial turmoil, a senior bank executive said.
"It is not that we have cut hundreds of jobs. Maybe a few scores of jobs. Most of the job cuts relate to outsourced people," the executive told newswire Reuters.
"In times of recession you get rid of people and in boom times you hire people," the official said, asking not to be named as he is not authorised to speak to the media.
FGB outsources several jobs to various firms.
The bank said in a statement that "many business decisions have been taken over the past months to adjust to market circumstances".
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TASTING OWN MEDICINE
Posted by MOHAMMED KALEEMULLAH, DUBAI, U.A.E. on Monday 22 December 2008 at 20:08 UAE time
Most bank employees who used to fool people around with lies, deceit and fake promises and sell credit cards and other useless offers (and get their commissions & promotions), while making the life of the client a mess, are now having a taste of their own medicine. What goes around comes around.
At least they should take heed now. Banks are no friends of anyone, even their own staff. I still think the worst hit are ordinary people who trusted banks and invested their hard-earned money, just to abruptly know one fine day that they are poor while compared to earlier times. And still all are coming to the rescue of the rich banks and showering sympathy & pumping funds, with little botheration & concerns for investors.
Posted by MOHAMMED KALEEMULLAH, DUBAI, U.A.E. on Monday 22 December 2008 at 20:08 UAE time
Most bank employees who used to fool people around with lies, deceit and fake promises and sell credit cards and other useless offers (and get their commissions & promotions), while making the life of the client a mess, are now having a taste of their own medicine. What goes around comes around.
At least they should take heed now. Banks are no friends of anyone, even their own staff. I still think the worst hit are ordinary people who trusted banks and invested their hard-earned money, just to abruptly know one fine day that they are poor while compared to earlier times. And still all are coming to the rescue of the rich banks and showering sympathy & pumping funds, with little botheration & concerns for investors.
Dont believe rumors..!
Posted by Siraj Puzhithara, Dubai, United Arab Emirates on Monday 22 December 2008 at 19:13 UAE time
One of the few banks which are people focused is First Gulf and I am sure I don't buy such statements. Of course, the world is facing a troubled time but I think First Gulf have capacity to see through these times and please note the strength of any organisation is its employees and we stand solid to take things further.
Posted by Siraj Puzhithara, Dubai, United Arab Emirates on Monday 22 December 2008 at 19:13 UAE time
One of the few banks which are people focused is First Gulf and I am sure I don't buy such statements. Of course, the world is facing a troubled time but I think First Gulf have capacity to see through these times and please note the strength of any organisation is its employees and we stand solid to take things further.
There are no Job loss in FGB
Posted by Jerlin, Dubai, United Arab Emirates on Monday 22 December 2008 at 19:05 UAE time
In fact, any organisation evaluates staff performance periodically and do the needful like training and orientation repeatedly to enhance the staff performance. Repeat such exercises and still if one doesn't match the banks competitive environment, any such organisation or management is forced to replace, I would say that we have seen people joining the bank even a week back, we are still stable.
Posted by Jerlin, Dubai, United Arab Emirates on Monday 22 December 2008 at 19:05 UAE time
In fact, any organisation evaluates staff performance periodically and do the needful like training and orientation repeatedly to enhance the staff performance. Repeat such exercises and still if one doesn't match the banks competitive environment, any such organisation or management is forced to replace, I would say that we have seen people joining the bank even a week back, we are still stable.
The official
Posted by Raj, Dubai, UAE on Monday 22 December 2008 at 17:36 UAE time
Clearly the Official does not care for the people (his co-workers), i am sure he is happy his arse was off the line. No wonder he does not want to name himself.
Posted by Raj, Dubai, UAE on Monday 22 December 2008 at 17:36 UAE time
Clearly the Official does not care for the people (his co-workers), i am sure he is happy his arse was off the line. No wonder he does not want to name himself.
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