«DXP»: Restructuring salaries phased .. Included everyone
DXB Entertainment, a Dubai-based leisure and entertainment company, has revealed that the restructuring of its payroll is a temporary and temporary measure aimed at controlling the company's operating expenses. All mo
DXB Entertainment, a Dubai-based leisure and entertainment company, has revealed that restructuring its payroll is a phased and temporary measure aimed at controlling the company's operating expenses.
She stressed to the Emirates Today that the decision to cut salaries covered all employees of the company without exception, and ratios ranging between 15 and 40% included salaries, incentives and benefits granted.
An official at Meraas Holding, a partner in the company, said it had decided to pay the difference in salaries and benefits to its citizens, as part of its support for Emiratisation.
In detail, an official source at DXB Entertainment, a specialist in the entertainment and leisure sector, a public shareholding listed on the Dubai Financial Market, revealed that restructuring the payroll of the company's employees is a phased and temporary procedure that is subject to cost review by the company, to achieve more efficiency. Operational.
He explained that the company was giving in the past periods of incentives and benefits for its employees, but the challenges facing the company in the current period prevented it, and came to the need to develop a plan so that the company continues to work, and maintain its cadres, calling on workers to bear this stage to maintain continuity in the market .
The source stressed that the company has the right in the event of losses, to consider adjusting its operating expenses, expecting the situation to improve during the coming period, in conjunction with the control of operating expenses, which can improve the salaries of the company's employees in the future.
Status of citizens
The source stressed that with regard to the citizens working in the company, they were met by the CEO to ensure transparency, and to ensure the response to their inquiries, because of the importance of retaining the national cadres for the company, while ensuring a comfortable position for them, in conjunction with this latest amendment to the salary scale and incentives And bonuses.
He continued: «Despite the restructuring of financial matters in the company several times, since the current management took office in 2017, no citizen contract has been canceled».
The official source at «DXB Entertainment» that the company continues in the process of supporting and qualifying citizens to keep up with developments in the entertainment sector, by sending them in specialized programs in the entertainment sector annually to the United States.
The source pointed out that the decision to reduce salaries included all employees of the company without exception, contrary to what is being promoted, stressing the application of the new salary scale and bonuses on all employees.
The recent amendment to the salary and allowances scale included a reduction in contracts, bonuses and benefits for all staff, from the CEO to the lowest salary.
He continued: «benefits and allowances included reduction: annual tickets due to employees, and education allowances for children and allowance related to communications (telephone) rates ranging between 15 and 40%», noting that the reduction was not equal rates for everyone, but was made according to the nature of the work of each employee.
The source pointed out that the recent amendment of the salary system, has been rescheduled in a manner commensurate with the salaries in the entertainment and hospitality sector, and in line with the reduction in operating costs, which is adopted by the management as a listed company in the local financial market aimed at making profit in the future, pointing out that, The salaries of employees in the company after the adjustment will increase by 20% higher than the domestic market.
An official at Meraas Holding Group, a partner in the company, said it had decided to pay the difference in the cost of reducing salaries and benefits for the company's citizens, starting with its support for Emiratisation.