By Rebecca Bundhun
Company says it has been forced to lay off 108 employees amid global downturn.
Dubai World Trade Centre (DWTC) laid off 108 employees on Thursday as a result of the global economic downturn, the company has announced.DWTC said it “released” six percent of its workforce, with real estate being the area most impacted by the move.
“In light of global conditions, DWTC has decided to take prudent and proactive measures in streamlining the organisation,” it said in a statement.
“The strategic decision will ensure that we continue our current robust growth in our core areas of business events and catering” the statement added.
The downturn is definitely affecting all businesses - it is just a matter of time how many more will shut shop and axe ALL their staff, stop all projects and turn the lights out. I was a casualty this week - and it was not pleasant. It was on the cards but not expected. Let alone the fact every one knows what is happening out there in the broader marketplace, the process of achieving the 6% 'axing' was abhorrent. HR were not even present for any of the process last week to assist and counsel and guide staff. It really did leave a lot to be desired from an organisation that states its pride in having a Human Capital Dept! For those remaining, one can only wish them the best. Given the atmosphere and feeling within the corridors, one already knows and senses that their is more to come and deeper than this last cut.