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Burt Hill lays off 111 employees |
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1/28/2009 10:24:13 AM |
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Burt Hill, an American architecture design firm, on Tuesday said it has made more than 18 per cent of its 611-strong workforce redundant in Dubai, continuing the stream of cost cutbacks in the real estate sector.
This means that 111 employees have been asked to go.
The company announced that the current market situation has led to a review of the workforce requirements to meet market demand.
"This staffing adjustment has come as a result of the slowdown that the property sector as a whole is experiencing," said Haydar Hassan, director of Burt Hill and member of the board of directors and executive committee. "We firmly believe in the future growth of Dubai and will continue to move forward and contribute to the long term vision of Dubai's construction and development sector"
The 72-year old company that began in Philadelphia had over 1,200 employees worldwide with three international offices. Its UAE workforce now comprises 500 employees after the job cuts.
The redundancies come after a few developers made similar announcements in reaction to the property market slowdown. Nakheel made 500 people redundant in November amid hundreds more by Damac and Omniyat Properties.
Burt Hill's layoff announcement comes a few days after WS Atkins, a British architectural and design consultancy firm, made 210 people redundant, of which 170 are from its Dubai office, as one of its major clients has postponed a number of key projects in Dubai.
Analysts predict a return of liquidity could boost the market and help businesses take off.
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Source:Zawya.com |
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