An official source in Emaar revealed the validity of what was stated in a letter sent by the company to its employees that the company decided to reduce the salaries of senior management by a rate ranging from 50% to 100%.
According to a letter sent by Chairman of the Board Mohamed Al Abbar to the employees, (Emirates Today) viewed a copy of it, the salary cuts came into effect on the first of April and include all levels and entities of the company until further notice.
According to the statement, the procedures include deduction of the Chairman’s salary by 100%, senior management with a 50% reduction, middle management by 40%, and young employees with a 30% reduction.
The statement detailed the procedures for salary cuts as follows:
The Chairman of the Board of Directors reduces 100% of the gross salary
Senior Management Team members from 9 to 13 reduction 50%
Middle Management Team Members from the seventh to the eighth grade to reduce by 40%
Staff from the fourth to the sixth degree reduced by 30% of the total salary
Supporting jobs from the third degree or less, the salary will not be reduced for those who work full-time, and for employees who have stopped work or those who are currently on vacation they will be treated in relation to Emaar Hospitality Company will be given only 15% of the salary to the employee while maintaining housing and health insurance Other companies will be paid 60% of the salary.