Dubai's Abraaj Group said to cut back on 15 per cent of its workforce - The National

Dubai's Abraaj Group said to cut back on 15 per cent of its workforce - The National:

"Abraaj Group is cutting about 15 per cent of its total workforce, according to people with knowledge of the matter, as the Middle East’s largest buyout fund seeks to trim costs, placate investors and curb the tumult that followed allegations of misused funds. Positions are being eliminated globally, mostly in back-office operations and among junior employees, with most of the affected staff being notified on Thursday, the people said, declining to be identified as the plans are confidential. No partners will be fired, they said. The company employs about 350 people. “It is always difficult to separate talented people from the firm,” the Dubai-based buyout firm said in a statement. “The personnel changes we are making as part of this re-organisation will help ensure that Abraaj is better positioned for operational effectiveness and sustainable growth.”"



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