Tin-Bullet,
Rumours will always do the rounds, particularly at times like these. But a little common sense always helps to see the true picture. I am, as you say, 'living it' but am sure that anyone working for Serco shouldn't be worrying about their future in Dubai. It will only be those within the organisation (outside of Serco)that have been deemed 'surplus to requirement' that may be subject to a redeployment. There may be a bit of fat in the system but that will play an important role when the time comes to move down the road.
As for people getting fed up and moving to greener pastures, that will always happen. Always has. However in these post payrise times any move anywhere will certainly mean a considerable paycut. Of course being in Dubai is a lifestyle choice and some come here for a limited time, but considering the pay here now, justifying moving on or going home is a much tougher decision.
Gut feeling - no payrise (or cut) or increase in allowances and no layoffs.
RD