Business | Markets
Channel Sponsor
Morgan Stanley reduces its workforce at Dubai financial centre
Morgan Stanley reduced its workforce at its regional hub in the Dubai International Financial Centre, joining others in the emirate who have cut jobs to manage the impact of the global credit crisis.
- Bloomberg
- Published: 17:54 November 30, 2008
Dubai: Morgan Stanley reduced its workforce at its regional hub in the Dubai International Financial Centre, joining others in the emirate who have cut jobs to manage the impact of the global credit crisis.
The bank cut 10 to 15 jobs last week from more than 110 at its office, Georges Makhoul, Morgan Stanley's managing director for the Middle East and North Africa, said on Sunday in an e-mailed response to questions from Bloomberg News.
"We have no intention at all to redefine our presence here as it is strategic," he said. The reductions were not made in any particular area or level, he added.
Share this article
Related Articles
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Media baron Murdoch cries foul
Murdoch's suggestion of content theft infuriates digital evangelists
-
Jobs vital to global recovery
Higher unemployment reduces purchasing power and revenues
-
Abulhoul Aviation to begin operations
New charter company will use Cessna 206 Station Air to transport tourists
