Monday 5 December 2011

Shuaa Capital announces job cuts and closes retail brokerage - The National

Shuaa Capital has cut a tenth of its workforce and replaced its finance director as the investment bank's cost-cutting plan begins.

The Dubai investment bank said it would lay off 29 of its 312-strong workforce as it closes its retail brokerage to focus on big institutional clients.

"Shuaa is determined to manage the process in a controlled manner and reduce business disruption as much as possible," the company said.

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