Deyaar Development said on Monday it has slashed its workforce by 20 percent as it looks to cut costs amid the collapse of Dubai’s once-booming real estate market.
The Dubai-listed developer said in a statement the job cuts were “in line with the company’s commitment to align those resources with its current and medium-term business requirements”.
The developer said the cuts were “the only such measure carried out by Deyaar since the start of the global financial crisis”.
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