Emaar is a real estate developer based in Dubai.
PHOTO BY ARCHIVE
DUBAI – Emaar has cut down salaries by up to 100 percent while sparing its support staff amid the ongoing Covid-19 crisis.
The biggest pay cut went to Emaar chairman, Mohamed Alabbar, with a 100 percent salary reduction effective April 1.
Senior management at the Dubai real estate developer will get a 50 percent salary reduction, while middle management employees will get a 40 percent pay cut. Junior staff will get a salary reduction of 30 percent.
“I would like to reassure that our people remain on top of our priorities. Taking all circumstances into consideration, I remain optimistic and I am confident that this is only a temporary phase. Until then we remain grateful for the blessings we have today – our safety, our wellbeing and our families,” said Alabbar.
Emaar said it will implement the new salary structure across all levels in its portfolio.
Support staff working full time will get their full salaries while staff on leave will get 15 percent of their salary as well as accommodation and medical benefits. ICA/Expat Media
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