ArchitectRoel
what do you think?
Chocoholic
Sadly a few of my friends have taken pay cuts. But it's either that or no job.
sage & onion
- ArchitectRoel wrote:
what do you think?
Unfortunately it is a sign of the times, and quite often happens in time of Financial Crisis, of course it is always up to the Employee to accept or leave.
uaekid
I don't get it, many of Dubai companies profited in the last 10 years big time, didn't those idiots save anything for such a disaster? it's not fare you do this to ppl all of a sudden
Bora Bora
- uaekid wrote:
I don't get it, many of Dubai companies profited in the last 10 years big time, didn't those idiots save anything for such a disaster? it's not fare you do this to ppl all of a sudden
Pretty much the same as the expat idiots who went out and bought property, took out personal loans, bought high end cars, had two nannies, lived large on their credit cards and now are on the run leaving behind their debt!
ArchitectRoel
- uaekid wrote:
I don't get it, many of Dubai companies profited in the last 10 years big time, didn't those idiots save anything for such a disaster? it's not fare you do this to ppl all of a sudden
I think they have big savings in bank but they just take advantage of the crisis situation.
RobbyG
I hear a lot of true arguments ;)
yorky500
- uaekid wrote:
I don't get it, many of Dubai companies profited in the last 10 years big time, didn't those idiots save anything for such a disaster? it's not fare you do this to ppl all of a sudden
What, where do you think all the Emirati's get there massive houses and flash cars from? Of course they did not save any cash? Emirati's do own/share a large % of the companies here.
You should be asking this of your own people! :lol:
michaeldubai
To think Damac was once giving of luxury cars and airplanes a few months ago and now firing people. Such trash management and planning skills.
Anyway on topic - definitely not illegal but better than firing employees. markets have their ups and downs - while up, everyone benefits - employees and companies.
While down - no one benefits - but thats what effective planning iand management is about. Being able to sustain through such seasonal business cycles without rash action
I would say recession hit Dubai is the ultimate test of who is good and who is not. separates the crap from the worthy
Red Chief
- ArchitectRoel wrote:
they just take advantage of the crisis situation.
Hard to believe that the crisis is an enjoyment for somebody... 8)
1 Dubai Jobs .com The First Place to Find a Job in Dubai
Bora Bora
- yorky500 wrote:
- uaekid wrote:
I don't get it, many of Dubai companies profited in the last 10 years big time, didn't those idiots save anything for such a disaster? it's not fare you do this to ppl all of a sudden
What, where do you think all the Emirati's get there massive houses and flash cars from? Of course they did not save any cash? Emirati's do own/share a large % of the companies here.
You should be asking this of your own people! :lol:
The locals also own a big piece of the debt here. More of them are in debt that you can imagine.
uaekid
- yorky500 wrote:
- uaekid wrote:
I don't get it, many of Dubai companies profited in the last 10 years big time, didn't those idiots save anything for such a disaster? it's not fare you do this to ppl all of a sudden
What, where do you think all the Emirati's get there massive houses and flash cars from? Of course they did not save any cash? Emirati's do own/share a large % of the companies here.
You should be asking this of your own people! :lol:
more like banks loans
yujinn
Isn't it that if your pay was cut, work hours will be shortened as well?
It is the reason why companies are laying off employees in the first place- there is no or fewer work to be done.
maximusprime
Yep, its 100% ILLEGAL! It says it explicitly in the law look here:
&refid=72
You can see it plain as day in the "EMPLOYMENT CONTRACTS,RECORDS AND WAGES"
Unfortunately I have become all too familiar with the situation.
And about all of that "they do it for us so we can keep our jobs" bullsh!t, thats a load of carp!
RobbyG
- maximusprime wrote:
Yep, its 100% ILLEGAL! It says it explicitly in the law look here:
&refid=72
You can see it plain as day in the "EMPLOYMENT CONTRACTS,RECORDS AND WAGES"
Unfortunately I have become all too familiar with the situation.
And about all of that "they do it for us so we can keep our jobs" bullsh!t, thats a load of carp!
Its not 'always' a load of crap. Its merely needed for survival for 40 percent loss of revenue, that most conmpanies encounter momentarily.
So, unless you get the C out of there, your not changing the fact of lower pay for the coming year(s).... :wink:
maximusprime
If this were a little bump in the road I would agree with you but the sad truth is, Dubai's construction boom is over. Done. Dead. Caput! Its not comming back later this year, its not comming back in the next 3 years which means people have to go. You cant run an office with 500 people sitting around with nothing to do.
Think about it, the "build and they will come" approach resulted in massive amounts of unoccupied finished space, and even more unfinished space that no one wants now. Why? because the only people buying were speculators. There was no real demand.
Top that off with the fact that all the expats that dubai worked so hard to lure here are leaving and you are left with an oversupply that will cause prices to bottom out making it economically retarded to even THINK of starting a new project.
Dubai will pick up the pieces in time, but it will take a LONG time and when it recovers it will have to do so in a way that takes into acount basic principles of economics.
In the mean time, I say take what you can and get the fcuk out of this place.
ArchitectRoel
- yujinn wrote:
Isn't it that if your pay was cut, work hours will be shortened as well?
It is the reason why companies are laying off employees in the first place- there is no or fewer work to be done.
Some companies shorten the working hours, but some don't
DPS
I guess taking a pay cut is a win win way out given the crisis. Except that a few companies are believed to be using this situation to exploit the people.
iastaff
With the crisis hitting almost all countries around the world, I think its difficult holding a job in any country right now. It seems like only the rich are surviving and the small workers on the bottom that produce all the work to keep the rich people rich are the only ones suffering. It seems that the ones on the bottom of the rung are always the only ones to suffer while the ceo's keep their mansions, summer homes, and 15 cars and care less about their workforce. Just my humble opinion.
sage & onion
- iastaff wrote:
With the crisis hitting almost all countries around the world, I think its difficult holding a job in any country right now. It seems like only the rich are surviving and the small workers on the bottom that produce all the work to keep the rich people rich are the only ones suffering. It seems that the ones on the bottom of the rung are always the only ones to suffer while the ceo's keep their mansions, summer homes, and 15 cars and care less about their workforce. Just my humble opinion.
So whats new :cry: