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