Dubai developer Nakheel cuts some staff salaries by up to 50%

DUBAI: Dubai state developer Nakheel has cut salaries by up to 50 percent to help it weather the coronavirus pandemic, according to an internal email.

A Nakheel spokeswoman confirmed that some wages were revised in April though did not say by how much. Nakheel’s long-serving chief executive Sanjay Manchanda stepped down on March 1 to pursue new opportunities, the spokeswoman also said.

Must Read

Pakistan’s development spending slows to Rs76bn in four months due to...

Planning Ministry authorised Rs330.43 billion, equivalent 33% of PSDP funds for July–October, but utilisation remained just 7.6% of the Rs1tr federal development budget