Dubai Layoffs
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Dubai Layoffs
I guess they really can't 'spread the news' in the local papers. Not a word that DNATA has laid off hundreds (maybe in the thousands by now), is losing money to the tune of over $40 million/week (to be fair small in percentage terms) and so are all the local construction firms.
The schools are all clamouring to figure out enrollment next year.
Going to be very quiet next autumn when many don't return!!
PS. this is NOT an anti-Dubai post--I wish this was not happening and that friends and others still had jobs!
The schools are all clamouring to figure out enrollment next year.
Going to be very quiet next autumn when many don't return!!
PS. this is NOT an anti-Dubai post--I wish this was not happening and that friends and others still had jobs!
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Don't agree with the
I know of some people who can't get their kids into the school of choice at the moment let alone next year. Maybe some of the newer, more expensive 'Varkey' schools are struggling, but not all!!
I do know that if you look at the Atlantis Hotel at night you will see a number of floors closed off, that is a fact!!!
It is not all bad but I agree that in some areas it is 'grim'.
The schools are all clamouring to figure out enrollment next year.
I do know that if you look at the Atlantis Hotel at night you will see a number of floors closed off, that is a fact!!!
It is not all bad but I agree that in some areas it is 'grim'.
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But I read in Gulf News that everything is great in Dubai! Growth continues, numbers are up, future so bright you gotta wear shades...
(Gee I guess this IS an anti-Dubai post...
)
(Gee I guess this IS an anti-Dubai post...
)
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... i really can't believe, that educated people like pilots, are still reading this propagandaesque GULF-news paper - where for example they stated yesterday, that the UAE GDP will continue to grow by som "healthy 1-2 %" - however the reality/ in letters printed by the financial times on the SAME day, confirmed that "the UAE GDP is already down bs some 4-5% and furhter decreasing" - due to the further fall of oilprices;
if you need further prove, that the GULF news is at its best just suitable to bring up your fireplace for some BBQ @ home, compare the harsh facts that the biggist constructing companies - like NAKHEEL is now seeking & getting "State funds of almost 5 billions !! - as they otherwise won't be able anymore to settle their invoices" - which is continuously plaid down in the GN.
in other words: NAKHEEL would be BANKRUPT / at least insolvent/ without the massive state-fund/ bail-out-cash injection from the state, as they're rapidly running out of cash - as NAKHEEL is already unable to settle their invoices for some contractors for some time - and have been consecutively taken to court for that;
plus lots of those "iconic buildings like stupid Trump Tower stopped alltogehter" or are half empty, like the Atlantis, or over 40% (!!) down in price (i don't think there word value would be appropriate), as are villas on the palm & appartments in the Burj,. now off about 40-ish percent from their last summer bubble-inflated heights !! ...
Nuff said - just don't waste Your time to look at those propaganda papers anymore - they're WAY off reality - waste of Your time - rather read the FOM
if You want to have a look at the real facts, then rather buy a neutral newspaper from OUTSIDE of these muppets-country - or just have a look here:
Dubai’s Nakheel receives bail-out cash
By Simeon Kerr in Dubai
Published: May 11 2009 09:34 | Last updated: May 11 2009 19:12
FT.com / Companies / Property - Dubai?s Nakheel receives bail-out cash
if you need further prove, that the GULF news is at its best just suitable to bring up your fireplace for some BBQ @ home, compare the harsh facts that the biggist constructing companies - like NAKHEEL is now seeking & getting "State funds of almost 5 billions !! - as they otherwise won't be able anymore to settle their invoices" - which is continuously plaid down in the GN.
in other words: NAKHEEL would be BANKRUPT / at least insolvent/ without the massive state-fund/ bail-out-cash injection from the state, as they're rapidly running out of cash - as NAKHEEL is already unable to settle their invoices for some contractors for some time - and have been consecutively taken to court for that;
plus lots of those "iconic buildings like stupid Trump Tower stopped alltogehter" or are half empty, like the Atlantis, or over 40% (!!) down in price (i don't think there word value would be appropriate), as are villas on the palm & appartments in the Burj,. now off about 40-ish percent from their last summer bubble-inflated heights !! ...
Nuff said - just don't waste Your time to look at those propaganda papers anymore - they're WAY off reality - waste of Your time - rather read the FOM
if You want to have a look at the real facts, then rather buy a neutral newspaper from OUTSIDE of these muppets-country - or just have a look here:
Dubai’s Nakheel receives bail-out cash
By Simeon Kerr in Dubai
Published: May 11 2009 09:34 | Last updated: May 11 2009 19:12
FT.com / Companies / Property - Dubai?s Nakheel receives bail-out cash
Last edited by Cyberbird; 12th May 2009 at 13:13.
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OK, not gonna argue the point.
Was told that dozens in this persons dept were let go and would happen in every dept as a cost savings measure. By their calculation it adds up to hundreds in just that area of operations. So there are layoffs and not just one offs.
I would assume that EK may be in line for similar treatment.
Was told that dozens in this persons dept were let go and would happen in every dept as a cost savings measure. By their calculation it adds up to hundreds in just that area of operations. So there are layoffs and not just one offs.
I would assume that EK may be in line for similar treatment.
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DNATA has laid off hundreds (maybe in the thousands by now),
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Jack- I wrote that the person I know was laid off and so were dozens in his respective area. This person extropolated out that across dept's it would be in the hundreds (it's a HUGE company) possibly into the 3 figures.
Read my last post-- nothing sensational.
Read my last post-- nothing sensational.
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Said nothing about assuming it is across dept's just that it IS across dept's. Person extropolated out based on what they know---simple!! Whether it is 50 people or 500 there are layoffs--can't get much simpler than that.
Is also a Western expat in mid management. So I trust the comments and analysis they made.
Then again, I hope it's wrong and things go on tickety boo. After all the economic downturn doesn't affect anyone here!
Good friend in the construction industry has lost 21 (TWENTY ONE) friends in the downturn all leaving by July. Woman at the school today in sons class will be leaving in August----5th family I know over 2 classrooms that will be leaving.
But somehow no one can believe its happening at DNATA. Or that EK will be spared (hoping it will be though).
Is also a Western expat in mid management. So I trust the comments and analysis they made.
Then again, I hope it's wrong and things go on tickety boo. After all the economic downturn doesn't affect anyone here!
Good friend in the construction industry has lost 21 (TWENTY ONE) friends in the downturn all leaving by July. Woman at the school today in sons class will be leaving in August----5th family I know over 2 classrooms that will be leaving.
But somehow no one can believe its happening at DNATA. Or that EK will be spared (hoping it will be though).
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Had dinner at the Madinat waterfront tonight. Never seen the Madinat so quiet, almost eerie! Shopkeepers standing in the walkways trying to get customers in. Hope this is not going to last long as it must be hurting this city badly.
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I was in Madinat Jumeirah about 2 weeks ago - all pretty busy , but not sure about money being spent in shops. Restaurants quite busy . Eye candy still blinding !!!!
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... and, fwiw, Irish Village was packed last night.... wherein they were offering all drinks at 19 Dhs (which, for those not in the know, is pretty cheap for here!... a deal they're running this whole weekend I believe?)... and as per kotakota, the eye candy was of a particularly high standard... not that I was looking (especially so with Mrs OKC supervising every twitch of my eye).
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Just spoke to a friend who came in from Sydney this morning on the direct service. The good news for the airline is that the flight was almost full (490+ pax) - but the bad news for Dubai hotels, restaurants etc was that fewer than 10 of those pax got off in Dubai. The rest were in transit.