Dubai's Emirates NBD begins new round of job cuts -sources - Reuters:
Emirates NBD, Dubai’s largest bank, began cutting hundreds of jobs this week after the impact of the coronavirus crisis accelerated planned lay-offs, three sources said.
Although the full scale of the redundancies was not immediately clear, one source estimated Emirates NBD is cutting some 10% of its staff, equivalent to around 800 people.
The majority were made in the United Arab Emirates (UAE), the Arab world’s second-biggest economy, they told Reuters.
Emirates NBD said in a statement sent to Reuters that recent developments have had a significant impact on the economy, the financial services sector and the bank.
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