Abu Dhabi-based investment firm, The National Investor (TNI), has shed more than half of its workforce and is planning more job cuts in a bid to reduce costs in response to tough financial markets, several sources told Reuters on Monday.
Like a number of rival Middle Eastern investment firms, TNI is struggling to boost revenue and remain profitable in depressed capital markets post the global financial crisis.
TNI, which operates in private equity, investment advisory and asset management businesses, had the first round of layoffs last year reducing its workforce to the current level of around 55 people the sources told Reuters.
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