Nakheel to cut workforce

The Independent, a UK-based newspaper, reports today that Dubai’s Nakheel is about to slash 500 jobs.

The paper quotes the company response as, ‘Nakheel continues to evaluate its projects and commitments against market conditions and opportunities. In doing so, the company also evaluates its cost base and efficiencies.’

Nakheel Properties is a state-owned property developer. Major construction projects include the Palm Jumeirah, Palm Deira, Palm Jebel Ali, The World, Jumeirah Islands, Ibn Battuta Mall, Discovery Gardens, International City, and Al Furjan.

Tags: Al Furjan, Discovery Gardens, Ibn Battuta Mall, International City, Jumeirah Islands, Nakheel, Palm Deira, Palm Jebel Ali, Palm Jumeirah, The World