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Friday, 19 May 2017

Alabbar Noon Venture With Saudi Fund Said to Let Dubai Staff Go - Bloomberg

Alabbar Noon Venture With Saudi Fund Said to Let Dubai Staff Go - Bloomberg:

"Noon, the e-commerce venture of Dubai businessman Mohamed Alabbar partly funded by Saudi Arabia’s Public Investment Fund, let go of dozens of staffers in Dubai amid delays to rolling out the app, according to four people familiar with the matter. Members from all departments, as well as contractors and vendors were let go, the people said, asking not to be identified as they aren’t authorized to speak to the media. Two of them said that there is still some hiring taking place. “Due to the shift in our operational base and the need for even greater efficiencies, there have been nominal staff reallocations and changes,” Noon said in an emailed statement Thursday. “Any rumors to the contrary are exaggerated and incorrect.”"



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