Emaar Properties considers cutting 250 jobsaccording media sources

Property developer Emaar Properties is considering cutting 250 jobs as the real estate sector in the emirate suffers a severe downturn, said Bloomberg.

The company has also slapped pay cuts of between 20 and 30 per cent on its employees’ wages in early March, London-based Meed magazine reported in its latest issue citing unnamed Emaar employees.
The job cuts would reduce Emaar’s total workforce to some 50 employees after it laid off around 200 employees in November 2008, Meed said.