by Lin NoueihedThis email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 30 November 2008
JOB CUTS: Nakheel has reduced its workforce by 15 percent as it scales back projects. (ITP Images)Dubai government-owned Nakheel, developer of the Gulf trade hub's man-made palm islands, said on Sunday it had cut 500 jobs or 15 percent of its workforce as it scales back projects amid the global financial crisis.
'We have the responsibility to adjust our short term business plans to accommodate the current global environment,' it said in a statement quoting a spokesperson.
'The redundancies are indeed regrettable, but a necessity dictated by operational requirements which are in turn dependent on demand.'"
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