I worked in Riyadh and Jeddah for several years back in the 80s and Saudization was a major topic back then. Although the country made huge advances in many different fields, that was one dream that was a dream too far.
But I would not single out Saudia as being the only company around the world trying to lay off staff. Its happening all over the place. Which is why I am sitting at home right now and have the time to read and reply to these threads.
Just to digress.... google old pictures of Saudia Tristars and other aircraft of that era. You will find two different fonts for the name Saudia. Apparently it was changed because some bright spark claimed that the older version had a cross in it between the S and the A.