Qatar Property Developer Ezdan Fires Workers in Revamp - Bloomberg:
"Ezdan Holding Group QSC reduced almost 15 percent of its workforce as Qatar’s largest publicly traded real estate developer restructures its operations, according to two people familiar with the situation.
The 220 job cuts mostly comprised maintenance staff and included some management, said the people, who asked not to be identified because the information is private. An Ezdan spokesman and another official at the company didn’t respond to requests for comment.
Ezdan held the second-largest weighting in the Qatari stock index earlier this year until it was dropped after shareholders approved a plan on May 24 to convert the business to a private company. The shares have fallen 49 percent since. Valued at 21.2 billion riyals ($5.5 billion), Ezdan is controlled by its founder, a Qatari royal, and related entities, and only has about 6 percent of its shares available for trading by outside investors."
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