ArabianBusiness.com - Middle East Business News
Tuesday, 24 November 2009 06:29 UAE time

YOUR DIRECTORY /

| Share |

ASGC to lay off 1000 staff due to delays

by ArabianBusiness.com staff writer  on Saturday, 27 December 2008

Dubai-based Al Shafar General Contracting plans to trim up to 1000 jobs following project delays and suspensions.

CEO Bishoy Azmy said the company was forced to cut staff as clients struggled to make payments and monthly income dried up.

Several projects under negotiation had been suspended as developers review their ongoing and future assignments amid the economic crisis.

Story continues below ↓
advertisement

Staff on probation will be among the first to leave, along with underperforming employees, Azmy said.

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST CONSTRUCTION & INDUSTRY

  1. Abu Dhabi awards $408m Mussafah canal contract
  2. Qatar-Bahrain causeway work to being Q1 2010
  3. Burj Dubai material supplier sets up Mideast base
  4. Dubai plans start-up help for expat entrepreneurs
  5. $4.4bn Abu Dhabi oil project contracts awarded

TOP MIDDLE EAST BUSINESS STORIES

  1. Shell delays Qatargas4 project by a year
  2. 'Worrying' diabetes tests raise doubt on UAE's health
  3. Accor opening two new ibis hotels in region
  4. First UAE arthouse cinema opens in Dubai Mall
  5. Abraaj Capital issue is fully subscribed

ALSO IN MIDDLE EAST CONSTRUCTION & INDUSTRY

  1. Abyaar and Lacroix to build Dubai residential tower
  2. Gulf has $1.35tn worth of building projects underway
  3. Abu Dhabi awards $408m Mussafah canal contract
  4. New work order
  5. Qatar signs $22.79bn rail deal with Deutsche Bahn

LATEST MIDDLE EAST BUSINESS NEWS

  1. Energy: Shell delays Qatargas4 project by a year
  2. Construction & Industry: Abyaar and Lacroix to build Dubai residential tower
  3. Travel & Hospitality: Gulf Air unveils strategy to save $2.65bn over five years
  4. Travel & Hospitality: Accor opening two new ibis hotels in region
  5. Banking & Finance: Abraaj Capital issue is fully subscribed
From  Current Issue

SHARE PRICE CHECK

RELATED STORIES

Al Shafar General Contracting Co. LLC
| 14 stories
  1. Business development
    18 Dec '08 | Features
  2. Whodunnit at Business Bay
    27 Sep '08 | News

 EMAIL ALERTS

  1. Al Shafar General Contracting Co. LLC

  2. Construction & Industry


Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. Dubai developers see negative press reports decline 07
    23 Nov ' 09 at 20:40
    Someone just said she'll never invest again in Dubai, that's because you don't have anything to invest anymore. Your impetuosity proved...   More  »
  2. Why I h8 junk txts 06
    23 Nov ' 09 at 22:23
    I have to disagree with the comment about junk mail in the UK. We registered with the Mail Preference Service (and Phone Preference...   More  »
  3. Fewer drivers killed on Dubai roads last year 04
    23 Nov ' 09 at 15:21
    Hi Mick, can I make a suggestion. If you travel with someone, then let him video this driver with your mobile. You can pass that onto...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY