Dubai’s Depa to cut jobs as it seeks to trim costs | The National

Dubai’s Depa to cut jobs as it seeks to trim costs | The National:

"Dubai’s Depa will cut jobs as it embarks on a restructuring after posting a loss for the third quarter. The fit-out contractor lost Dh22 million in the June to September period compared with a profit of Dh19m a year earlier. Third-quarter revenue also declined by 32 per cent year-on-year to Dh347m.

“Times are tough,” said Umar Saleem, the chief financial officer. “We are consolidating all of our contracting operations in the Middle East under our flagship company, Depa Interiors.”

He said the company had previously decentralised operations by building teams of estimators, designers and project managers in markets such as Saudi Arabia, Qatar and Abu Dhabi, but these will now be scaled back. This work will be carried out from Dubai with a skeleton staff maintained in each market."



'via Blog this'