Dubai developer Limitless has let another tranche of staff go, despite announcing in February that it had halved its workforce to about 220 since 2008.
The firm is now sharing its board with fellow Dubai World developer Nakheel as the group seeks to restructure $23.5bn of debt.
It will also shift its headquarters from its current site on Al Khail Road, which was opened in 2008, although it has not disclosed the identity of the new location.
“Limitless continues to review and adjust its business activity to reflect market conditions,” the company said in a statement.
“This includes streamlining operations in order to reduce costs while continuing to maximise productivity. Regrettably, jobs are impacted.”
A spokeswoman for Limitless declined to tell local UAE daily the National exactly how many jobs had been affected.
Limitless, which has been excluded from the Dubai World restructuring, had initial plans to build a 75km, $11bn canal through Dubai, although work on that project has been halted.
Project work overseas has also been hit, with the master developer selling its 60 percent interest in a joint venture plan to build houses in Malaysia’s Johor state.
In Dubai, Limitless has continued work on its Downtown Jebel Ali masterplan, with construction on Zone One of the project almost complete.
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